Keeping Track: home equity

Stagnant despite record level of ownership

A record 67 percent of Americans own homes. But equity in those homes has not climbed. Between 1989 and 1999, in fact, average home equity per homeowner declined, in inflation-adjusted dollars, from $91,000 to $89,500.

One reason: Young householders appear to be borrowing heavily against their homes. In 1999, according to an analysis of US Census figures by the Consumer Federation of America, homeowners under 45 had 14 percent less equity than those in that age group did a decade earlier.

Equity did increase among those with incomes below their regional medians (up 6 percent) and among African-Americans (up 12 percent).

(c) Copyright 2000. The Christian Science Publishing Society

Share this story:

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK