Homes are “equity-rich” when owners owe less than 50% of what their homes are worth and “underwater” when they owe more than the entire value of the house.
In areas where fewer homes are bought using mortgages, getting on the property ladder is even more difficult.
But suburban owners still want to be close to downtown amenities.
The Northwest Home Equity Assurance Program was originally created to help prevent white flight. The money sat unspent for years.
It's tempting to track home values like the stock market. But how accurate are those online estimates?
Residents of East Los Angeles are seeing prices drop and can't sell their homes.
