The study looked at how changes in banking rules affect people's ability to buy homes and take out mortgages. They found that when regulations were relaxed, more people became homeowners and took on more mortgage debt. In areas where rules were loosened, the chances of owning a home increased by 1% and having a mortgage increased by 2%. This change explained almost half of the rise in homeownership and mortgage holders. People also took on about 20% more mortgage debt. Overall, households outside of cities saw a slight increase in their debt compared to their income.