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When in Doubt, Zoom Out

The Compound and Friends

CHAPTER

The Rise and Fall of the Homeowner Equity Market

U.S. homeowner equity is 49% of the national total in the second quarter, up from 27%. The value of houses going back up again means most people are not looking to sell because they don't want a new mortgage. People just have built up a lot of equity. They're okay on their mortgages. You could refinance no problem for three years. That's not the kind of thing that changes overnight. It would be really hard to have a recession without home prices falling. And they're just not falling and they're not turning over either.

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