U.S. Housing Wealth Diverges Between ‘Underwater’ and ‘Equity Rich’

U.S. Housing Wealth Diverges Between ‘Underwater’ and ‘Equity Rich’

ATTOM Data Solutions released its Q2 2017 U.S. Home Equity & Underwater Report on August 17, 2017 showing that at the end of the second quarter of 2017 there were more than 14 million (14,038,372) U.S. properties that were equity rich; where combined loan amounts secured by the property was 50 percent or less of the estimated market value of the property.

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US housing wealth is growing for the oldest and wealthiest Americans, at the expense of everybody else. By Dan Kopf May 2, 2017. Since the 1970s, coastal US cities have implemented laws that make.

Between 2007 and 2016, the average wealth of the bottom 99 percent dropped by $4,500. Over the same period, the average wealth of the top 1 percent rose by $4.9 million. This drop hit the housing wealth of African Americans particularly hard. Outside of home equity, black wealth recovered its 2007 level by 2016.

NCOA has partnered with greenpath financial wellness-a nonprofit financial wellness organization approved by the U.S. Department of Housing & Urban Development (HUD) to do housing counseling-to offer reverse mortgage counseling to older homeowners. Counseling sessions last between one to two hours and follow a federally mandated protocol.

Total housing wealth was estimated at 4,768 billion in 2014, an increase of 8% over the last year. Only 28% of home-owner and 19% of private landlord housing equity is mortgaged; The amount of free equity held by those with a mortgage was 945 billion in 2014.

Analysis U.S. housing wealth diverges Between ‘Underwater,’ ‘Equity Rich’ Experts predict "a very slow recovery especially with home prices slowing up a bit” for these areas to recover.

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Until the mid-2000s, the net worth of households across the wealth distribution increased at roughly the same pace, keeping inequality stable. That started to change when housing prices took off in the early 2000s. For the bottom 50%, rising home values were more than offset by mortgage debt, which almost doubled between 2003 and 2007.

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U.S. Housing Wealth Diverges Between Underwater’ and Equity Rich’ – More than a decade after the recession, one in 11 mortgaged properties in the U.S. is considered "seriously underwater," according to the home equity report by ATTOM Data Solutions. This equates to. What Is a Home Equity Line of Credit (HELOC)?

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