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U.S. Home Owner’s Equity Doubles: Here’s How and Why
Diana Olick is a well-known industry writer. Anyone with an interest in Marin County real estate can usually find something of value when she comes up with a new entry in her CNBC column (the one with the pun-worthy title, “Realty Check”). This month she commented on the rising housing market across the nation and its repercussions in terms of homeowner equity.
The piece points out that in the U.S., home equity has doubled over the last five years!
It’s hardly news that home values have been steadily on the rise—that’s been a trend long seen in the asking prices in California and our Marin County listings. But the idea of homeowner equity actually doubling could be hard to believe.
That’s a claim that sounds a like quite an exaggeration…until you stop to think about what is actually being said. When a Marin County homeowner sees that their home’s “equity” has doubled, what it doesn’t mean is that its value has doubled.
Here’s a simplistic example. Suppose a Marin County homeowner’s vacation cabin was estimated to be valued at $100,000 in 2011. Doubling the owner’s equity doesn’t mean that today the cabin would be worth $200,000. The “equity” in the property is the amount of ... more

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