Where is my home equity??

Tuesday, May 26. 2009

I have currently come across some statistics that in my opinion have had a great deal in contributing where we are at in this real estate market and why we are missing our "move up buyers".

2000: Americans took out $26 billion in equity out of their homes
2004: Americans took out $139 billion in equity out of their homes
2005: Americans took out $450 billion in equity out of their homes
2006: Americans took out $650 billion in equity out of their homes

42% of this went to consumer spending or to pay off consumer debt!! So, we transferred our not secured debt into our homes?!!!

Posted by Joshua Koffler in Features at 14:32 | Comments (0) | Trackbacks (0)

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