                                                Table 8
                                          Deleveraging to Come


                   Amount of Deleveraging Needed to Bring Mortgage Leverage to 2005 levels


                   

                     No deleveraging needed  0.763
                     0-1 months of income    0.027
                     2-3 months of income    0.047
                     3-6 months of income    0.046
                     6-12 months of income   0.048
                     1-2 years of income     0.040
                     2-3 years of income     0.016
                     3+ years of income      0.014

                   Note.  Samples include all households for whom I can do comparison
                   Note.  Income equals that reported in the 2009 survey.
