Households’ Equity in Residential Real Estate Near Record High!
May 9, 2023
–Below is a somewhat interesting bit of data. From the chart, Household Owners’ Equity as a Percentage of HH Real Estate, one can see that Households have about 71% of equity in Real Estate, the highest level since the 1950s!
–No wonder Tom Selleck (sell out) is out there shilling for reverse mortgages on late night commercials.
–From the Z.1 quarterly Fed report, the amount of Home Mortgage debt at the end of 2022 was $12.5 trillion, while the “value” of real estate was $43.5 trillion (up 10.7% in a year).
–From this data, THERE IS NO REASON TO WORRY ABOUT MORTGAGE DEBT and HOUSING, if, that is, the value assessed by the Fed is anywhere near correct.
From Z.1 HH Home Mortgage $12.515T, up 6.5% in a year.
