Cashed-out home equity may exceed growth in disposable income this year

Period Growth in home equity loans; Billions of Dollars Cash-out re-financings and added debt through mortgage consolidation; Billions of dollars Change in After-Tax Income; Billions of Dollars
1994 12.8 29.2 239.9
1995 17.5 21.7 256.4
1996 31.4 34.5 280.2
1997 41.1 39.1 300.4
1998 29.3 72.4 407.1
1999 40.4 71.1 299.0
2000 90.3 60.4 499.1
2001 26.0 135.5 292.8
2002 65.5 170.5 343.2
2003 101.7 224.4 339.1
2004 201.3 182.0 495.1
2005 239.2 200.0 418.1

Source: Federal Reserve and Freddie Mac.

2005 is Freddie Mac forecast and equity and income estimates based on first half data.