You must read this article from Tim Cavanaugh with Reason.com.
Our national average for equity in single family homes is 20.4%.
There is no room for refinancing home mortgages on the large scale we saw in the past. That is unless prices appreciate quickly.
Make sure to read the commentary on social engineering detailing the costs and benefits of encouraging more home ownership.
Here are some more charts illustrating home equity as a percentage of GDP.
Travis J. Bohling
Brewer Caldwell Property Management
480-212-7041 (Direct Line)
480-212-7042 (Fax)
Travisb@brewercaldwell.com
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Tags: Bailout, bank owned homes, foreclosure, home equity, phoenix real estate, property management, REO
