U.S. Housing Wealth Diverges Between ‘Underwater’ and ‘Equity Rich’

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The Baby Boom generation possesses enormous home equity, which by some estimates exceeds $6 trillion. 1 Despite this mountain of housing wealth, many Boomers will face financial insecurity in retirement. According to one study, between 30 and 40 percent of Boomers will have insufficient income at age 70 to adequately replace their pre-retirement earnings. 2 The extent to which Boomers and.

Housing wealth is about one half of household net worth, and consumption is a considerable fraction (about two thirds) of Gross Domestic Product in the United States. Empirically, movements in housing wealth are associated with movements in consumption in the same direction. This observation has led.

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As home prices continued rising, the number of U.S. properties that were equity rich – where the combined loan amount secured by the property was 50% or less of the estimated market value – grew to 14 million in the second quarter, according to Attom Data Solutions.

Home Equity. From 2000 to 2010, the share of overall wealth in home equity among homeowners aged 65+ decreased from 33% to 23%. (Census Bureau, 2011) Approximately 3.5 million older homeowners are underwater on their loans and have no home equity. (Trawinski & AARP, 2012) Reverse Mortgages

And this is in a hyper-crazy market. You also have a large number of equity rich owners but they need to sell to uncork that wealth. Seriously underwater property owners. The housing market has recovered nearly in tandem with the stock market. The stock market has been on a virtual nonstop bull run since early 2009.

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In "accountant-speak," equity is the difference between the value of an asset and the value of the. An Introduction to Housing Wealth: What is home equity and how can it be used?. The Federal Housing Administration (FHA), a mortgage insurance entity within HUD, the U.S. Department of.

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wealth effect, is that housing wealth is collateralisable. Households-consumers can borrow against the equity in their homes and use this to finance consumption. If they are credit-constrained, a boost to housing wealth would relax the credit constraint and temporarily boost consumption spending.

U.S. household nancial wealth in cash, bonds and mutual funds was 22.5% of household wealth in 2001. Further, homeowners hold most nancial wealth, with renters relatively liquidity-constrained. This paper develops a model of consumption to determine why households hold relatively so much of their wealth in housing. Households have a.

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