Written By: Yoon G. Lee

Using data from the 2001 American Housing Survey, this study examines how Baby Boomers utilize home equity loans and identifies the correlates of home equity usage among Baby Boomer homeowners. This study found that higher incomes, investment incomes, greater numbers of mortgages, higher amount of mortgages borrowed, more expensive homes, and longer years lived in the unit were positively associated with home equity borrowing. Moreover, Baby Boomers that were more highly educated, Caucasian, and resided in the Midwest or West were more likely to borrow against their homes than other individuals. Implications for borrowing against the value of their home among the Baby Boomer population are presented. Keywords: Baby Boomers, Borrowing, Home Equity Loans, Mortgage Loans

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