2/3’s of American homeowners have equity less than 15% of their home’s value: 2/3 are at risk of mortgages higher than home value
1/3 of American homeowners own their homes outright, with no threat of mortgage default.
Unfortunately, the other 2/3 have equity in their homes of less than 15% of the current value.
With home prices already having dropped by nearly 35% in many counties, homeowners EN MASSE soon risk having no equity whatsoever, and having negative equity if house prices drop much further.
Add to that debacle the unseen commercial real estate bubble bursting, and Americans will not have any value in their homes.
Is this the end of the American Dream?
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