U.S. Home Owner Equity is at Near 10 Year High
According to the Federal Reserve, the U.S. home owner equity is at near 10 year high in the third quarter of 2015.
Average American owner’s equity is now at 56.7%, this is the highest since the second quarter of 2006 when it was at 57.7%. This is far contrast from the first quarter of 2009 when the average equity hit rock bottom at 37%. The Federal Reserve also reported that the overall US real estate holding has surpassed the then record high of 2006 at approximately $25 trillion.
Nearly all markets across the nation are seeing home prices recover from the downturn of the mid to late 2000’s. In some markets, new heights are being reached at record breaking rate.
Below is a chart on how the Portland market is stacking up against rest of the country.
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