House Holdings
07/24/2014 | | Economic forecasting, Eisenberg and housing economics, Eisenberg and public speaking, Elliot eisenberg, Graphsandlaughs, House equity, MLS, Multiple listing service, Public speaking economist, econ70, economist on TV, economist on radio, eisenberg and economics, funniest economist, funny housing economist, graphsandlaughs and eisenberg, housing sales, mortgage banking, net worth, politics and economics, 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.