                                          Table 2
                      Comparison between Households who were Highly Indebted
                            and Others near Peak of the Credit Boom
                         Sample:  HHs in 2005, 2007, 2009 Waves

                            Non-homeowners      Homeowners        Homeowners
                                             In Non-boom States In Boom States
                           ----------------  ----------------  ----------------
                           High-Debt  Other  High-Debt  Other  High-Debt  Other

2007 Household Characteristics:
  Head age*                   37.55   42.35     40.21   49.60     41.41   50.32
  Head has college degree*     0.31    0.21      0.37    0.37      0.40    0.44
  Income/1000                 31.20   30.32     72.00   75.60     77.00   92.80
  Nonhousing cons/1000        12.62   12.05     21.30   21.32     28.22   25.36
  # of vehicles*               1.09    1.12      2.04    2.21      2.09    2.11
  Net worth/1000             -13.40    4.03     30.00  184.05     61.00  324.00
    House value/1000           0.00    0.00    150.00  180.00    300.00  365.00
    Fin assets/1000            0.40    0.60      5.00   23.00     10.00   45.00
    Mortgage debt/1000         0.00    0.00    139.00   55.00    260.00  100.00
    Consumer debt/1000        20.00    0.00     16.71    6.00     15.00    5.48
  Nonhous C/Y                  0.35    0.36      0.30    0.27      0.37    0.29
  NW/Y                        -0.48    0.16      0.47    2.59      0.85    3.97
  Mortgage/Y                   0.00    0.00      1.92    0.74      2.63    1.01
  Consumer debt/Y              0.78    0.00      0.24    0.07      0.18    0.06
  Mortgage/house value         0.00    0.00      0.88    0.37      0.84    0.32
  Debt service/Y               0.25    0.00      0.28    0.16      0.34    0.17

Change over previous 2 years:
  Became homeowner*            0.00    0.00      0.19    0.05      0.27    0.03
  # of vehicles*               0.04    0.05      0.06    0.07      0.21    0.08
  Nonhous C/Y                  0.01    0.00     -0.03   -0.01     -0.01    0.01
  NW/Y                        -0.40    0.00      0.06    0.26      0.13    0.72
  Mortgage/Y                   0.00    0.00      0.27    0.00      1.06   -0.02
  Mortgage/house value         0.00    0.00      0.07   -0.02      0.26   -0.03
  Consumer debt/Y              0.19    0.00     -0.04    0.00     -0.02    0.00
  Debt service/Y               0.04    0.00      0.02    0.00      0.08   -0.00

Characteristics of 2007 State of Residence:
  %ch HPI 00-06:              63.96   56.09     32.71   36.89    131.76  124.60
  Unemployment rate            4.61    4.61      4.68    4.68      4.28    4.28

Number of observations          286    1336       544    1674       189     619


Means shown for variables marked with a *; all other statistics are medians.
High debt households (traditional measure) are those in highest quintile of
D/A for non-homeowners and of Mortgage/House Value for homeowners.
High debt payment households are based on total debt service/income for all groups.
Sample includes only households with a full set of interviews 2005-2009. 

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