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Homeowners who refinanced their mortgages took out cash and reduced their monthly payments at the same time. Much of the cash obtained by refinancing was spent on consumer durables, home improvements and the like.

Martin Feldstein

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Martin Feldstein
Age: 79 †
Born: 1939
Born: November 25
Died: 2019
Died: June 11
Economist
Former Chairman Of Council Of Economic Advisers
Professor
University Teacher
New York City
New York
Martin S. Feldstein
Martin Stuart Feldstein
Took
Mortgage
Home
Payment
Reduced
Homeowners
Much
Consumer
Monthly
Time
Cash
Mortgages
Like
Consumers
Payments
Improvement
Improvements
Spent
Obtained

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