Home Equity Hydroplaning

Number of ‘underwater’ homes declines slightly
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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.

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About Erick's Brain

The mind of a black man trapped in a cynical world. View all posts by Erick's Brain

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