{"id":15420,"date":"2019-05-13T13:03:36","date_gmt":"2019-05-13T13:03:36","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=15420"},"modified":"2019-05-13T13:03:37","modified_gmt":"2019-05-13T13:03:37","slug":"equity-rich-home-ownership-falling","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/equity-rich-home-ownership-falling\/","title":{"rendered":"Equity Rich home ownership Falling"},"content":{"rendered":"

Equity Rich home ownership Falling<\/h2>\n
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Equity Rich home ownership Falling<\/p><\/div>\n

Home prices are slowing compared to a year ago. That\u2019s prompting the share of properties considered \u201cequity rich\u201d to decrease\u00a0and the share of \u201cseriously underwater\u201d properties to grow to 9.1% of all U.S., homes, according to a newly released report reflecting first-quarter data from ATTOM Data Solutions.<\/p>\n

At the end of the first quarter, more than 5.2 million U.S. properties were seriously underwater, meaning the combined balance of loans secured by the property is at least 25% higher than the property\u2019s estimated market value. That number is up by more than 17,000 properties from a year ago.<\/p>\n

\u201cWith home prices increasing at a slower pace in 2018\u00a0than in previous years, the potential for people to climb out from mortgages that are underwater or advance into equity-rich territory tends to be reduced,\u201d says Todd Teta, chief product officer at ATTOM Data Solutions. \u201cHowever, only one in 11 mortgages are seriously underwater today, compared to nearly one in three during the depths of the recession. Although, if the latest trend continues, it will raise another clear signal of a market slowdown, which will be good for buyers, but not so good for sellers. But if the pattern of the past few years takes hold\u2013with levels of underwater and equity rich mortgages turning around\u2013it will mean the market remains strong for sellers, with fewer needing to get out from under financial distress.\u201d<\/p>\n

The highest shares of seriously underwater homeowners are in Louisiana, Mississippi, Arkansas, and West Virginia. The metros with the highest shares of seriously underwater properties, as of the first quarter, were in the following areas:<\/p>\n