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This paper uses the 1989 Survey of Consumer Finances to show that committed expenditures related to homeownership cause agents to hold their financial assets in a safe form. This work follows theoretical results by Fratantoni [5] which show that the mortgage commitment leads to reduced risky asset holding, and empirical results by Guisoet al.[7] which show that agents with uncertain labor income hold fewer risky assets. I find that doubling the median homeowner's mortgage payment/income ratio leads to a 15% decrease in the risky share.