Home equity is back! And it’s growing fast: According to the latest data from the Federal Reserve, Americans’ net equity holdings in their houses jumped by nearly half a trillion dollars during the last three months of 2012, and have increased by $1.7 trillion since spring 2011.
What does this mean to you? Depending on where you own your home, it could mean that finally — after years of struggling with an underwater mortgage — the market value of your property has risen enough to put you into positive equity territory. Or closer to break-even equity than you assumed.
Look what’s back in your house now ~ Seattle Times
Fannie Mae sees housing upturn as ‘intact’ ~ Inman News
SHILLER: ‘We’re Living In A Totally Artificial Real Estate Economy’ ~ Business Insider