House Holdings
07/24/2014 | | econ70, Economic forecasting, economist on radio, economist on TV, eisenberg and economics, Eisenberg and housing economics, Eisenberg and public speaking, Elliot eisenberg, funniest economist, funny housing economist, Graphsandlaughs, graphsandlaughs and eisenberg, House equity, housing sales, MLS, mortgage banking, Multiple listing service, net worth, politics and economics, Public speaking economist, www.econ70.com
Prior to the recession, the average homeowner’s equity percentage in their home was 60%. That percentage is now 53.64% and has been rising steadily since bottoming out at 36.6% in Q1/09. This suggests we are quite close to fully recovering. The catch: house prices are still 15% lower than they were before the recession. Therefore the total dollar value of home equity is still 21% below its peak.