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Wiley InterScience | ||
  Journal of Consumer AffairsVolume 31 Issue 2, Pages 326 - 345 Published Online: 4 Mar 2005 Copyright 2010 by The American Council on Consumer Interests
Abstract | References | Full Text: PDF (Size: 1013K) | Related Articles | Citation Tracking  Determinants of the Demand for Home Equity Credit Lines Copyright 1997 The American Council on Consumer Interests ABSTRACTFrom the Survey of Consumer Finances conducted in 1989 and 1992 a logit model was tested for demographic and financial influences on household decisions to utilize home equity line credit. Results indicate that among households with credit lines other than credit card lines or business lines, the choice of a home equity credit line in lieu of another type of check credit line is influenced principally by percentage of equity in the home, income, net worth, age of the borrower, and credit price. Several implications may be derived from this study. As the markets reflect more complete information about the low-risk attributes of this credit, the convenience as a payment mechanism, and the tax subsidy to homeowners, it is expected that home equity credit lines users will be distributed more evenly across income and wealth categories. |
