Friday, March 7, 2008

It will only get worse

US Home debt greater than equity for first time since 1945

WASHINGTON (AP) — In a troubling report, the Federal Reserve said Americans' equity in their homes has fallen below 50% for the first time since 1945. Home equity is the percentage of a home's market value minus mortgage-related debt.

Posted by sold 2 rent 1 @ 12:00 PM (439 views)
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