Homeowners May Have More Equity Than They Think!
Homeowners May Have More Equity Than They Think!March 26th, 2016
We’ve talked a lot about home prices rising lately. We’ve mentioned the high demand levels and low inventories, and know that rents are skyrocketing, mortgage rates are low, and the economy is recovering. Everyone agrees that the housing market has been making a strong come back from the lows of the crash in 2008 – some are even worried about a bubble again (though we’ve said we expect slower, steady growth that’s more sustainable as we move forward now). So it seems natural that a lot of homeowners are more optimistic about their home’s market value. But surprisingly, most of them are underestimating how much their home price has gone up.