home equity: Home Equity Dropping Below 50% Level
- 03/17/08 04:20 PM
The article, Home equity below 50% level, from the USA TODAY, reports that home equity for the average American has dropped below 50% for the first time since World War II. The average homeowners' equity fell to 47.9% at the end of 2007, the Federal Reserve reported last Thursday. The drop below 50% is partly symbolic as average home equity was declining even as the housing boom approached its peak in 2005. But the new number underscores the problems for millions of Americans struggling to hang onto their homes as their mortgage rates adjust upward and their property values decline. "Consumers … (0 comments)
home equity: Ready to Downsize? You Couldn't Pick a Better Time!
- 01/03/08 02:49 AM
Well, here we are in a brand new year! I'm very happy to welcome in 2008! I was thinking this morning about a couple conversations I've had recently with clients who are considering downsizing. One would think that downsizing is a senior issue "or" for those approaching their senior years, but downsizing some times just makes sense economically, no matter your age. Maybe economically isn't the word but you know what I mean. If you are a buyer who doesn't have a home to sell first, you couldn't ask for a better market than what we're experiencing right now in Arizona. But, let's … (0 comments)
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The article, Home equity below 50% level, from the USA TODAY, reports that home equity for the average American has dropped below 50% for the first time since World War II. The average homeowners' equity fell to 47.9% at the end of 2007, the Federal Reserve reported last Thursday. The drop below 50% is partly symbolic as average home equity was declining even as the housing boom approached its peak in 2005. But the new number underscores the problems for millions of Americans struggling to hang onto their homes as their mortgage rates adjust upward and their property values decline. "Consumers … (0 comments)
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