Curbed article still cites Nevada's relatively high number of negative-equity homes
Rising home prices and rents have created an affordable housing crisis for many low-income Americans, but for homeowners who survived the crisis or bought their homes a few years ago, it's leading to a different outcome-additional wealth.
Homeownership has long been a vital wealth-building tool for middle-class Americans, and with a housing shortage pushing prices ever upward, homeowners have more and more untapped equity in their homes.
Home equity is the difference between what the home is worth and the amount still owed on the home's mortgage. Because home values keep going up and mortgages generally shrink as payments are made, homeowners have more equity in their homes that can be converted to cash by refinancing the mortgage or taking out a home equity line of credit. Read the full article by clicking here.