Homeowners are getting richer and richer as prices keep soaring – and the numbers are staggering.
Those with mortgages — about 62% of all properties — saw their equity jump by 20% in the first quarter from a year earlier, according to CoreLogic. This represents a collective cash gain of close to $2 trillion. Per borrower, the average gain was $33,400.
Those with mortgages — about 62% of all properties — saw their equity jump by 20% in the first quarter from a year earlier, according to CoreLogic. This represents a collective cash gain of close to $2 trillion. Per borrower, the average gain was $33,400.
Key Points
...more- Homeowners with mortgages saw their equity jump by 20% in the first quarter from a year earlier.
- This represents a collective cash gain of close to $2 trillion. Per borrower, the average gain was $33,400.
- Record-low mortgage rates for much of last year only added to the buying frenzy and helped fuel the price gains.
RSK: Mark up means nothing until it sells...usually means your assessments will go up which means higher taxes.
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- - Volume: 9 - WEEK: 25 Date: 6/15/2021 9:03:56 AM -