More good new on the homefront for 2013!
WASHINGTON — With all the depressing reports about the “fiscal cliff” and potential rollbacks in tax benefits for homeowners, you might have missed some of the positive trends under way for real estate.
Start with homeowners’ equity. It’s growing again significantly after five years of declines and stagnation.
This is a huge piece of good news that hasn’t received the attention it deserves.
After hitting a low of $6.45 trillion in the final three months of 2011, Americans’ combined home equity jumped nearly $1.3 trillion during the next nine months to $7.71 trillion — a 20 percent gain — according to the “flow of funds” quarterly estimate released in December by the Federal Reserve.
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