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Almost Half of Mortgaged Homes in US Now Considered Equity-Rich

Bloomberg business news
Long Term Issues Facing the Housing Industry

Home ownership has reached a milestone in the US.

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.