The number of homes in the market with negative equity fell to 10.9% of total homes in the third quarter of 2016, down from last year’s 13.4% and from 12.1% in the second quarter of 2016. Negative equity continues to go down as home valuation goes up.
Equity gap between top and bottom of housing market starts to narrow
The U.S. negative equity rate is the share of all homeowners with a mortgage that is underwater, owing more on their home than it is worth. When home values fall, as they did dramatically between mid-2007 and late 2011, negative equity rises. When home values rise, negative equity recedes. Home values at the low end of the market are rising much faster than those at the… Read more at HousingWire.com
A lot of governments as well as some private developers and non-profits offers options to give a helping hand to struggling first-time home buyers who’s about to get into the housing market. Below are some programs that can really help.
Finding help in this crazy housing market
the dream of owning a home while earning a modest income just keeps getting harder and harder to achieve. But various governments as well as some non-profits and some private developers offer options to help struggling first-time home buyers get into the market… Read more at MoneySense.ca