"Where Most Homeowners Are Considered Equity-Rich"

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Nero
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"Where Most Homeowners Are Considered Equity-Rich"

Unread post by Nero »

"Nearly half of U.S. mortgage payers own at least 50 percent equity, according to ATTOM’s Q2 2022 Home Equity & Underwater Report. This means that the balance of loans taken out against the home is less than half the estimated market value of the property. The share of equity-rich homeowners has been rising continuously for the past nine quarters. While it hit 34.4 percent in Q2 of 2021, it rose to 44.9 percent in Q1 of 2022, and finally to today’s figure of 48.1 percent for Q2 2022.
According to ATTOM, of the 1,624 counties that had at least 2,500 homes with mortgages in Q2 of 2022, 49 of the top 50 equity-rich locations were in the Northeast, South and West. Counties with the highest share of equity-rich properties were Dukes County (Martha's Vineyard), MA (83.2 percent equity-rich); Chittenden County (Burlington), VT (82.3 percent); Gillespie County, TX (west of Austin) (79.4 percent); Nantucket County, MA (78.6 percent) and Travis County (Austin), TX (78.6 percent). Meanwhile, counties with the smallest share of equity-rich homes in Q2 of 2022 included Geary County (Junction City), KS (7 percent equity rich); Vernon Parish, LA (northwest of Lafayette) (9.7 percent); Cumberland County (Fayetteville), NC (12 percent); Acadia Parish, LA (outside Lafayette) (13.2 percent) and Greenup County, KY (14 percent).
At the same time, just 2.9 percent of mortgaged homes were considered “seriously underwater”, meaning that the balance of loans secured by the property exceeded its market value by at least 25 percent. This is down from 3.2 percent in Q1 of this year."
https://www.statista.com/chart/27919/us ... -315338365
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Re: "Where Most Homeowners Are Considered Equity-Rich"

Unread post by KarmaVarmint »

That is a pretty meaningless statistic without analysis.
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Re: "Where Most Homeowners Are Considered Equity-Rich"

Unread post by Nero »

KarmaVarmint wrote: August 5th, 2022, 4:30 pm That is a pretty meaningless statistic without analysis.
Here's a link to the analysis: https://www.prnewswire.com/news-release ... 99567.html
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Re: "Where Most Homeowners Are Considered Equity-Rich"

Unread post by KarmaVarmint »

Nero wrote: August 5th, 2022, 4:42 pm Here's a link to the analysis: https://www.prnewswire.com/news-release ... 99567.html
That's really just more statistics.
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Re: "Where Most Homeowners Are Considered Equity-Rich"

Unread post by Nero »

KarmaVarmint wrote: August 5th, 2022, 4:57 pm That's really just more statistics.
There's a "methodology" section.
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Re: "Where Most Homeowners Are Considered Equity-Rich"

Unread post by KarmaVarmint »

Nero wrote: August 5th, 2022, 5:05 pm There's a "methodology" section.
I mean, for example, Florida might be explained by the number of retirees moving there and paying cash for their homes. Wyoming might be explained by the high turnover from the boom and bust cycles in the oil and gas fields.

There's no analysis on the URL. Just more unexplained numbers.
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Re: "Where Most Homeowners Are Considered Equity-Rich"

Unread post by Charlie Mike »

Market value doesn't count if inflation is the driver. You might get more dollars but those dollars have less value.
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Re: "Where Most Homeowners Are Considered Equity-Rich"

Unread post by Nero »

KarmaVarmint wrote: August 5th, 2022, 5:08 pm I mean, for example, Florida might be explained by the number of retirees moving there and paying cash for their homes. Wyoming might be explained by the high turnover from the boom and bust cycles in the oil and gas fields.

There's no analysis on the URL. Just more unexplained numbers.
Probably need to read the whole report not just press releases.
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Re: "Where Most Homeowners Are Considered Equity-Rich"

Unread post by oflguy »

Nero wrote: August 5th, 2022, 4:18 pm "Nearly half of U.S. mortgage payers own at least 50 percent equity, according to ATTOM’s Q2 2022 Home Equity & Underwater Report. This means that the balance of loans taken out against the home is less than half the estimated market value of the property. The share of equity-rich homeowners has been rising continuously for the past nine quarters. While it hit 34.4 percent in Q2 of 2021, it rose to 44.9 percent in Q1 of 2022, and finally to today’s figure of 48.1 percent for Q2 2022.
According to ATTOM, of the 1,624 counties that had at least 2,500 homes with mortgages in Q2 of 2022, 49 of the top 50 equity-rich locations were in the Northeast, South and West. Counties with the highest share of equity-rich properties were Dukes County (Martha's Vineyard), MA (83.2 percent equity-rich); Chittenden County (Burlington), VT (82.3 percent); Gillespie County, TX (west of Austin) (79.4 percent); Nantucket County, MA (78.6 percent) and Travis County (Austin), TX (78.6 percent). Meanwhile, counties with the smallest share of equity-rich homes in Q2 of 2022 included Geary County (Junction City), KS (7 percent equity rich); Vernon Parish, LA (northwest of Lafayette) (9.7 percent); Cumberland County (Fayetteville), NC (12 percent); Acadia Parish, LA (outside Lafayette) (13.2 percent) and Greenup County, KY (14 percent).
At the same time, just 2.9 percent of mortgaged homes were considered “seriously underwater”, meaning that the balance of loans secured by the property exceeded its market value by at least 25 percent. This is down from 3.2 percent in Q1 of this year."
https://www.statista.com/chart/27919/us ... -315338365
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That only applies to people that have a mortgage. How many people own their houses? What are you implying?
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Re: "Where Most Homeowners Are Considered Equity-Rich"

Unread post by Boadicea »

Nero wrote: August 5th, 2022, 4:18 pm "Nearly half of U.S. mortgage payers own at least 50 percent equity, according to ATTOM’s Q2 2022 Home Equity & Underwater Report. This means that the balance of loans taken out against the home is less than half the estimated market value of the property. The share of equity-rich homeowners has been rising continuously for the past nine quarters. While it hit 34.4 percent in Q2 of 2021, it rose to 44.9 percent in Q1 of 2022, and finally to today’s figure of 48.1 percent for Q2 2022.
According to ATTOM, of the 1,624 counties that had at least 2,500 homes with mortgages in Q2 of 2022, 49 of the top 50 equity-rich locations were in the Northeast, South and West. Counties with the highest share of equity-rich properties were Dukes County (Martha's Vineyard), MA (83.2 percent equity-rich); Chittenden County (Burlington), VT (82.3 percent); Gillespie County, TX (west of Austin) (79.4 percent); Nantucket County, MA (78.6 percent) and Travis County (Austin), TX (78.6 percent). Meanwhile, counties with the smallest share of equity-rich homes in Q2 of 2022 included Geary County (Junction City), KS (7 percent equity rich); Vernon Parish, LA (northwest of Lafayette) (9.7 percent); Cumberland County (Fayetteville), NC (12 percent); Acadia Parish, LA (outside Lafayette) (13.2 percent) and Greenup County, KY (14 percent).
At the same time, just 2.9 percent of mortgaged homes were considered “seriously underwater”, meaning that the balance of loans secured by the property exceeded its market value by at least 25 percent. This is down from 3.2 percent in Q1 of this year."
https://www.statista.com/chart/27919/us ... -315338365
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Woohoo! I'm rich on paper....
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Re: "Where Most Homeowners Are Considered Equity-Rich"

Unread post by Nero »

Boadicea wrote: August 5th, 2022, 8:15 pm Woohoo! I'm rich on paper....
Yeah, me too. Put that "on paper" in capital letters! :D
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Re: "Where Most Homeowners Are Considered Equity-Rich"

Unread post by Nero »

oflguy wrote: August 5th, 2022, 8:09 pm That only applies to people that have a mortgage. How many people own their houses? What are you implying?
I'm not implying anything. I saw a chart that I found interesting and I posted it.
The political implications for homeowner equity are: "Being a Homeowner Could Get You Through a Recession"
https://www.fool.com/real-estate/2022/0 ... -recessio/
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Re: "Where Most Homeowners Are Considered Equity-Rich"

Unread post by oflguy »

Nero wrote: August 5th, 2022, 8:34 pm I'm not implying anything. I saw a chart that I found interesting and I posted it.
The political implications for homeowner equity are: "Being a Homeowner Could Get You Through a Recession"
https://www.fool.com/real-estate/2022/0 ... -recessio/
If Puddinhead was worried about a recession, he'd take his foot off the throat of oil and gas
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Re: "Where Most Homeowners Are Considered Equity-Rich"

Unread post by Gamle-ged »

Here in Florida, the only debt I have is credit card debt. And each month I eliminate that debt. But during the next month I build up credit card debt once again, then eliminate it again. I feel I'm in this hopeless spiral... :lol:
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Re: "Where Most Homeowners Are Considered Equity-Rich"

Unread post by Nero »

oflguy wrote: August 5th, 2022, 8:38 pm If Puddinhead was worried about a recession, he'd take his foot off the throat of oil and gas
Done. "Gas prices are falling. So is interest in electric cars"
https://www.cnn.com/2022/08/05/business ... index.html

"U.S. Oil Production Hits New 2022 Peak, but More Runway Ahead for Growth"
https://www.naturalgasintel.com/u-s-oil ... or-growth/

"U.S. Oil Production Reached Pre-Pandemic Levels"
https://www.spragueenergy.com/newsroom/ ... mic-levels
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