U.S. Home Equity May Be Down To About 20%

Los Angeles Times:

Blogger CalculatedRisk took a look at the Federal Reserve's latest estimate of the equity Americans have in their homes and found it overly optimistic on its face. And not by a little.

The Fed's quarterly tally of U.S. households' aggregate balance sheet, issued Thursday, as usual included an estimate of homeowner equity -- the market value of houses minus mortgage debt owed.

Read the whole story: Los Angeles Times