Home Equity Hydroplaning

Number of ‘underwater’ homes declines slightly

Something is way better than nothing, but mad homeowners are definitely not outta the woods. The home equity market is showing signs of a little recovery from what was the worst subprime catastrophe ever. The reason being, banks are getting a few of those foreclosures back on the market.

That doesn’t necessarily mean that it’s the perfect time to buy a home, it just means a few people are taking advantage of someone’s loss. The dark days are still apparent in states like Nevada, Arizona, and California, where in some neighborhoods about 80% of homeowners owe more than their property’s value.

Who really knows when it’ll be safe to buy a home for middle-income Americans again. An even more specific question is where will it be safe? For the time being, the leasing market is the best option for a tight budgeted American economy.