Home Equity Skyrockets
The Federal Reserve’s Board of Governors recently released a report showing just how much rising prices have helped current homeowners. Homeowners’ real estate wealth is increasing at a staggering pace.
More equity than ever means homeowners have more money than ever. That’s incredibly great news because it shows how this market is nothing like the market before the ‘08 crisis. People have a lot of cash they can tap into when needed, which means homebuying budgets will remain strong. To us, this shows that the market will bounce back quickly with very few foreclosures nationwide.