Benetton, Matteo; Kudlyak, Marianna; Mondragon, John - 2022
extracting home equity to help finance their child's home purchase and quantify this mechanism in several ways. First … extract equity are 60% more likely to become a homeowner than children whose homeowner-parents do not extract equity. Second … parents extract equity. Third, using variation in equity extraction induced by households near leverage constraints, we find …