Are you ready for some good news? According to nationally-syndicated columnist Kenneth Harney, “….homeowners still control near-record equity holdings, just under $11 trillion.” So despite, the bad news that is constantly being reported, the fact is that “…most homeowners’ equity stakes are intact. Or even growing.”

Granted, prices are off 4.4% on average, “…but if prices more than doubled (as they did in 33 metropolitan markets between 2001 and 2006), even 10 percent and higher average price drops in once-booming areas of California and Florida have left owners with most of their paper gains intact.” What this means is that for most homeowners, even though price corrections continue, the adjustment is minor compared to the significant gains enjoyed during the previous five years.

Enjoy reading more good news by checking out Ken Harney’s article here.