...Homeowner Equity Is Lowest Since 1945
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(Thu, 06 Mar 2008 13:11:58 -0500) --- From The Associated Press, 3/6/08
Homeowner Equity Is Lowest Since 1945
NEW YORK (AP) --
Americans' percentage of equity in their homes fell below 50 percent
for the first time on record since 1945, the Federal Reserve said
Thursday.
Homeowners' portion of equity slipped to downwardly revised 49.6
percent in the second quarter of 2007, the central bank reported in
its quarterly U.S. Flow of Funds Accounts, and declined further to
47.9 percent in the fourth quarter -- the third straight quarter it
was under 50 percent.
_____________________________________________
Harry
Harry Hope (rivrvu@ix.netcom.com).
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