Almost Half of Mortgaged Homes in US Now Considered Equity-Rich
Nearly half of mortgaged properties were considered equity-rich in the second quarter — meaning owners had at least 50% in home equity. This marked the ninth straight quarterly rise, fueled by soaring house valuations in the pandemic era and an increase in down payments by recent buyers, according to real estate data provider Attom.
Although the housing market has cooled recently, the percentage of equity-rich properties will probably keep increasing, according to Attom.
“While home price appreciation appears to be slowing down due to higher interest rates on mortgage loans, it seems likely that homeowners will continue to build on the record amount of equity they have for the rest of 2022,” Rick Sharga, executive vice president of market intelligence at Attom, said in a statement.
The gains were particularly sharp in the south, where many Americans moved during the pandemic.
In Florida, more than 60% of mortgaged homes are now equity-rich, up from about a third a year ago. It’s good news for owners and for municipalities as well, as it creates a more stable financial environment.
Nationwide the portion of mortgaged homes that were equity-rich reached a record 48.1% in last quarter, up from 44.9% in the first quarter and from 34.4% a year earlier, Attom said.
Areas with the highest share of equity-rich properties included Martha’s Vineyard and Nantucket, Massachusetts; Burlington, Vermont; and Gillespie county and Travis county near Austin, Texas.
Meanwhile, the share of homes that were considered seriously underwater — where the mortgage is 25% greater that the property’s estimated market value — dropped to a low of 2.9%.
Just for reference, roughly 35% of homes in the US are owned outright.
That’s good we can raise property taxes on em’
Headed up to Danbury CT for the first hockey tourney of the season.
Went to the dentist this week. I was the only patient there. No one in the waiting room when I got there and when I left. Never happened to me at that office before. I’m in there 10 times a year with the kids getting cleaning and braces. Very weird. ThenI saw an article that Americans are cutting back on dental and health care for inflation reasons.
HMB,
Just wait till you see the increase in health care premiums next year.
But don’t worry, Americans are so rich they can send and spend billions of dollars for wars around the world. They would rather have rotting teeth while they watch a missile they paid for slam into a building than visit a dentist or doctor.
It’s what they enjoy. Freedom isn’t free. Nor is dental care.
Biden made the choice easy for them.
CBS is reporting the truth about the money laundering and corruption in Ukraine 👀
https://twitter.com/financelancelot/status/1555860209867841536?s=21&t=kSAHQiI7pYVcd-_f7B3rpA
“No one knows where any of this money is going.
No one knows where all the weapons are going.
No one knows why the kids of politicians are on advisory boards.”
Got that right….they want to raise mine 24%. How in the world do you justify that?
Phoenix says:
August 6, 2022 at 10:08 am
HMB,
Just wait till you see the increase in health care premiums next year.
Well on the bright side In June I finally got certified by the World Trade Center for basal so I will have all deductibles and copays covered for basal. Took 11 months. And then this week I get a letter from WTC program’s new insurer. My dermatologist isn’t in the program. Will see if the dermatologist will add that insurer. Otherwise I will wind up paying out of my own pocket again.
Been relaxing at in laws pool complex..I can assure you that lots of spending on plastic surgery including butt implants. I counted 1/2 dozen at least. Insane.
Pumps
The obese diabetic Covid patients are probably causing a big chunk of that increase. But we have to be body positive nowadays. Pointing out how much more medical costs an obese person has and the number of sick days they use compare to normal weight person are no longer considered facts but is now body shaming.
I’m not saying we all have to have 6 pack and, but in todays America the only time lots of people eat vegetables is when there’s a pickle on their burger and the only exercise they get is plunging the toilet.
Bystander: I understand some men get butt implants too!! I was shocked when I heard that, but I guess I shouldn’t be.
Bystander:
Take some edibles and enjoy this. Two parts.
First is a little martial arts. Then at 4:00 you get Thriller.
https://m.youtube.com/watch?v=OqjXtCj7GXA
Hold,
It’s what I hate about healthcare in general. I work hard to not be lazy. Do HIIT 4-5 times a week. Walk 10,000 steps a day, basically almost never use insurance, but I get stuck with the enormous bill for lazy individuals. I have no problem paying for bad luck health issues of other individuals, but hate paying for fat fks that eat, drink, and smoke themselves to death. So lazy. I look at the fat slobs at my job that use the elevator instead of taking the stairs with disgust. Meanwhile I walk 2 miles on my lunch break and park my car like 10 minutes away from school. They can’t even make it up the stairs…smh.
Was crazy coming back to work and seeing how much more weight the fat f’ks put on during remote teaching. They can’t be home. They eat all day and get zero exercise. Pathetic.
I’m not saying we all have to have 6 pack and, but in todays America the only time lots of people eat vegetables is when there’s a pickle on their burger and the only exercise they get is plunging the toilet.
Love it!!
“I think the funniest thing about this equity rally is the fact that its based on lower bond yields as proxy for lower inflation expectations as Alf is correctly pointing out here… you have to ask the question why that is. Its a deflationary episode that the bond market is pricing in, and that means lower earnings, yet the stock market is only looking at the Interest Rate portion. There is no such thing as free lunch. Most of these earnings are nominal, not real, due to the 10% inflation. Same way it went up it will go down as inflation goes down.”
Is Joe making a comeback? Lol! Comeback from what? He was never there. Yahoo slathers it on thick. I have no idea why it’s my homepage. I might as well make msnbc my home page; black and white rage photos of Trump and hero Joe in aviator glasses is the standard. Lol!
https://www.yahoo.com/news/biden-making-comeback-jobs-report-090030551.html
Christ Chi..that is more of Hindi acid trip.
3b,
Can’t say I will be on look out for that but nothing surprises in CA. I asked my BIL about butt implants and he said all divorced moms looking for next victim. One of them asked us to help with gas grill. We helped but wife gave me evil eye. Woman had a thing with two big bongos jiggling. Could have 3b,
Can’t say I will be on look out for that but nothing surprises in CA. I asked my BIL about butt implants and he said all divorced moms looking for next victim. One of them asked us to help with gas grill. We helped but wife gave me evil eye. Woman had a thing with two big bongos jiggling. Could have rested drink on it. She thanked us and told us to come back for some steak and smiled..ahh
A few years ago, I believe it was 85 percent of vegetable consumption in US children is through potato chips and french fries
Chicago,
Nice, but this takes the cake…. https://m.youtube.com/watch?v=wnspfa8h5p0
Sorry, phone did something weird on post. Kept bring up ad and tried to paste comment in.
Old Brandon is kicking a$$ now. Stocks on fire, unemployment at record lows. Faux News can push all NYC violence it wants. Jacksonville run by R has huge upswings in violent crimes this year. I guess conservative policies are BS as usual. How is red wave looking in Nov? McConnell not sounding positive with Dumpys insane brigade winning R nominations. Orange clown is toxic to general voter. Kansas R now running scared on abortion policies..careful what religious nuts ask for. It does not fly with sane people.
Bystander,
Women know more about what other women are up to.
And they say men are jealous…..
I’ve never taken a hallucinogenic but that is what I imagine you might see if you take one.
“Chicago,
Nice, but this takes the cake…. https://m.youtube.com/watch?v=wnspfa8h5p0
What the fuck was that
Grim,
This is what it is:
https://youtu.be/2Virqo-pI5c?t=27
Love it. Guy in prison for murder studies while there and determines the prosecutor and judge either made a mistake or purposely lied in a trial.
Wins a new trial by himself. Good for him.
https://www.nj.com/union/2022/08/man-who-stabbed-girlfriend-94-times-wins-new-trial-due-to-judges-error.html
Weird whomever bought Joe Pesci’s house in Lavallette tore it down and is selling lots now. I don’t think they will make back their 6 million dollar investment.
https://www.realtor.com/realestateandhomes-detail/91-Pershing-Blvd_Lavallette_NJ_08735_M53346-22826
1:22 Biden beat your boy Trump fair and square, but it was too
painful for Trump to admit defeat. Trump tried to bully and cajole his way to a victory.
He cried and protested and even crapped himself a few times in between a snort of adderall and a hamburder. But YOU like ME don’t you he asks the crowd at a half-empty Trump rally . People who Trump would never allow near one of his clubs.
Trump whining to his minions. Looking for a comeback.
I was watching this woodstock 1999 mini docuseries on netflix and i couldnt believe how skinny the general public was back then
Woodstock ’94 was fun, we crashed it and my brother ended up breaking his collar bone in the muddy mosh pit. Chill Peppers and Green Day were epic…back when I still had a 28 inch waist…
Man…pool maintenance! Waaaay to much science.
It’s been epic pool weather here, water is 86F all the time, had a bit of algae added some shock this morning.
The thing about teacher pay is that districts are adjusting as though they are only competing with neighboring school districts, rather than adjusting to the fact that they are now competing with neighboring industries. 1/2
But, the nationwide shortage isn’t being caused by teachers leaving for other schools, but rather college students and mid-career teachers looking around and seeing other options.
https://twitter.com/plainy/status/1556289842748735488?s=21&t=UIbEhQ6x4MVYZKD-x621Aw
Try the Pool Calculator app. Plug in the values you want to keep it at, and the type of chemicals you use. It will tell you how much to add based on the pool volume you plug in, type of pool, etc.
I bought a real pool test kit. I’ll use the strips day to day, but when something is off I pull out the real kit.
I seem to get a bit of green algae whenever I have to add water or we get a bunch of rain, like Friday night. Shock, scrub and hit it with half of a jug of algaecide. It will be fine for a while.
Got a white algae one time, comes from when the kids don’t rinse off ocean water and then jump in the pool. Looks like torn tissue paper floating in the pool. That was tough to kill. Lots of shock.
Arrived back last night. It’s friggin hot here. Get me back to Florida where it was 85 and sunny.
Fuck electric vehicles. I have no patience for this shit.
https://www.reddit.com/r/funny/comments/wib6ps/this_funny_and_wholesome_interaction_in_the/?utm_source=share&utm_medium=mweb3x
Excluding private equity from the 15% corp min tax was yet another handout to #KochNetwork. They helped write TCJA and that saved them 1-1.4B annually. They fund think tanks that all go insane over the SALT cap relief being a HUGE tax cut for the rich.
https://twitter.com/saltcap1/status/1556459985411915781?s=21&t=m9I5I63luvQpRoZLfNBA9w