Almost Half of Mortgaged Houses Considered Equity Rich in the US

    Bloomberg News reports that in the second quarter, almost fifty percent of the properties mortgaged were regarded as equity rich. It indicates that owners’ homeowners had half of their equities in their properties. This has marked a quarterly rise for the ninth straight month, triggered by a surge in house valuation during the pandemic and an increase by the recent buyers in the down payments, according to Attom, the real estate data provider.




    Equity Rich

    The escalating price of homes attracting larger down payments for new loans is pushing the equity-rich price in Florida by about 60% last quarter in comparison to 33.4% to the figure just one year earlier. Although the housing market cooled of late, the percentage of homes that are equity rich will gradually increase over time, which was revealed by Attom.

    According to the executive vice president of market intelligence associated with Attom, Rick Sharga, while there is a slowdown in the price appreciation related to homes, it is pretty likely that the homebuilders will continue to work upon and make use of the building equity in their property for the remaining part of 2022.

    Bloomberg News reports that the profits were prominent in the South, where several Americans had relocated during the pandemic.

    Metro Florida

    In Florida, it is being observed that at least 60% of the homes mortgaged are rich in equity, up from what was just a year ago. While it is good news for the homeowners, it is good news for the municipalities as well, as an economic environment will be created which will be stable. Across the country, the percentage of mortgaged houses that became equity rich was a record 48.1% in the last quarter, up from 44.9% in the first quarter, and just a year earlier, it was 34.4%, as stated by Attom.

    Bloomberg News reports that those areas that share the highest stake of equity-rich properties include Nantucket and Martha’s Vineyard, Burlington, Massachusetts, Vermont, Gillespie county, and Travis county, close to Austin in Texas.

    In the meantime, the share of homes that were regarded as underwater, where the mortgage value is 25% higher compared to the estimated market value of the property, plunged to a low recording at 2.9%.



    RELATED ARTICLES

    investing in Crypto

    Investing in Crypto: A Guide for Smart Investors & Fundamentals

    Investing in cryptocurrencies has turned out to be an international phenomenon, attracting each institutional and...
    How To Find the Best FD Interest Rate for Senior Citizens Using an FD Interest Calculator

    How To Find the Best FD Interest Rate for Senior Citizens Using an FD Interest Calculator

    FDs are one of the most preferred investment products for senior citizens as they offer...
    When was Studio Ghibli founded

    When Was Studio Ghibli Founded: Japan’s Iconic Animation Legacy

    Studio Ghibli is a popular Japanese animation studio, known by many for its stunning movies,...
    online jobs for students

    Online Jobs for Students: Best ways to Earn Money & Build Skills 

    Balancing academics and price range can be challenging for college students, but online jobs offer...
    Best Trading Apps to Open a Demat Account

    Best Trading Apps to Open a Demat Account: Features & Fees

    Investing in the stock market has become more accessible than ever with trading apps that...
    5 Mistakes to Avoid for Choosing the Best Share Market App

    5 Mistakes to Avoid for Choosing the Best Share Market App

    Investing in the Indian share market is now easier than ever in the current digital...
    future Of e-commerce

    Future of E-commerce: Trends Affecting the Industry in 2025–2026

    E-commerce is not just an opportunity to standard retail—it’s the driving pressure shaping the global...
    youtube dark mode

    YouTube Dark Mode: Easy Steps to Enable It Now!

    YouTube dark mode is your ticket to a visually soothing experience. Are you tired of...
    How AI Headshots Can Elevate Your Business Image Instantly

    How AI Headshots Can Elevate Your Business Image Instantly

    We're living in a world where everyone's first impression comes from the digital environment of...
    5 Ways AI Software Can Streamline Your Business Operations

    5 Ways AI Software Can Streamline Your Business Operations

    We live in a fast paced technological world or businesses are under the pressure to...
    pagalmovies bond

    Pagalmovies Bond: Safe Alternative to Download 1080p Movies!

    Accessing films via platforms like Pagalmovies often leads to legal and security headaches. Ever wondered...