“Average homeowner gained $16,000 in home equity in 1 year.” That’s not a clickbait headline, it’s from Housing Wire, a publication of note for the mortgage industry.
If you’ve read many of these columns, you know that I’m a veteran of the real estate crash. Or, maybe I contributed to it… it all kind of depends on your point of view, I guess. Anyway, as I read further into this article, I learned that negative equity (also known as being “underwater”) fell another 9%, leaving only 4.3% of mortgaged homes underwater nationally.
Obviously, this is incredible news for people who own houses already, not such great news for people looking to buy a house right now…Read More