Jubilee Properties Warns US Homeowners As Loss of Equity Worth Trillions of Dollars Makes Waves
November 23, 2022 at 17:01
Vancouver, WA – Since last May, property owners in the United States have lost more than 1.5 trillion dollars in equity. Jubilee Properties is a prominent real estate firm in Washington. The business recently stated concerns over US homeowners' financial loss of equity. Property owners' equity has significantly decreased since the pandemic in 2020.
Over time, homeowners' monthly payments force them to spend a lot more money than the average family income. Home mortgage value is still strong despite the potential for more losses. Approximately 4% of over 52 million citizens with mortgages are below average and have less than 8% of their assets in their homes, nearly down by 50% after the pandemic.
Readers can learn more information about Jubilee Properties at jubileepropertiesnw.com.
“Following a 45% increase in property prices since the epidemic began, homeowner equity reached a height of $11.7 trillion in May last year. For the third consecutive month, housing prices declined on a weekly basis in September. We saw huge shorting and a significant rebalance of US stocks. Just adjusting naturally due to the significant decline in equity prices,” said a data analyst at Jubilee Properties.
He added, “U.S. mortgage holders witnessed a total of $1.3T in previously acquired equity disappear in only three months. Undoubtedly, that represents the biggest quarterly loss in revenue and the biggest percentage decline since 2009. Home equity peaked in the middle of May and has since been declining. Despite this, it's crucial to remember that less than 500,000 homeowners still owe more on their houses than their current market prices.”
Many experts forecast that prices will further decline in 2023, mainly owing to the market further cooling down as the fed is expected to increase interest rates further, causing potential buyers to continue losing interest until things settle.
About Jubilee Properties
Jubilee Properties, a reputable real estate company, located in Vancouver, Washington, has years of expertise in renovating and reconstructing unsettled properties. The company is committed to guiding customers toward the smoothest possible sale of their Washington property. The firm buys properties in any status or location throughout Washington. Jubilee Properties is a family-run company that assists homeowners with any issues, including bankruptcy, difficulty selling the property, or a general desire to sell their home.
For more information about Jubilee Properties NW, contact the company here:
Jubilee Properties NW
2811 Alderwood Avenue, BELLINGHAM, WA 98225, United States