From East to West Reeds Are The Best!
The real estate equity position of U.S. households (the difference between assets and liabilities) increased nearly 1.6 percent for the third quarter, according to tabulations from the National Association of Home Builders.
The market value of real estate held by U.S. households increased $180 billion dollars during the quarter, while liabilities (home mortgages) remained virtually unchanged. The value householdowned real estate, including owner-occupied and second homes, totaled $20.4 trillion for the quarter.
Total home mortgage debt outstanding stands at $9.4 trillion. Recent developments in terms of housing values and mortgage debt outstanding have been largely driven by tight lending conditions and steadily increasing home prices.