While we have been engrossed in the news of how many homeowners are underwater, what we are doing to transition back to a normal market and how long it will take? We do need to remember that there are still many homeowners that do, in fact, have positive equity in their homes.
Of course it depends on where you live and how long you've lived there. That's an obvious given fact. But there are still plenty of people that survived the housing 'bust' and still have equity.
I wish more of these people wanted to sell their homes. Yet, it is understandable that they want to recapture some of the equity they feel they have lost based upon prices 5 years ago....when they didn't sell.
Again I preach, that Real Estate is like stocks, bonds, mutual funds.....you need to be in for the long haul.
So, feel a tad good today....knowing there is still some equity out there. It may not be yours right now, but hang on.....it'll be in your house someday.....I promise.