Mortgaged Homes are Equity Rich, But the Market Still Struggles to Be Affordable

In this discussion, it's revealed that 46.2% of mortgaged homes in the U.S. are equity rich, highlighting a trend driven by pandemic buyers. The Northeast shows significant equity gains, while states in the Sun Belt experience declines. Affordability is at a crisis, with 99.3% of counties deemed less affordable than usual, largely due to rising median prices and high mortgage rates. Certain counties surprisingly outperform in affordability, and investors are left assessing the implications of record homeowner equity versus market accessibility.