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.
Tag Archives: net worth
Show me the Money
While tough mortgage-lending standards are hurting housing, so is a lack of wealth. A census report shows 33% of Hispanics have zero or negative net worth in ‘09 up from 23% in ’05. For blacks the portion rose to 35% from 29%, for whites it increased to 15% from 11%. 25% of all black and Hispanic households owned nothing but a car in ’09. Just 6% of whites and 8% of Asians were in that situation.