Friday, December 12, 2014

Under Eight Percent Of Home Owners Still Under Water

In 2012 that percentage was 33.5. Four times what it is now. Equity has come back for so many. I'm still a bit underwater but I'm paying it down as fast as I can. I borrowed it, I'm paying it back.

A few years ago were tough years for many homeowners and Realtors. Our income reduced dramatically as our home values depreciated dramatically. A lot of people were hurt by the housing bust. I continued to pay my mortgage. Cut back on several things, well actually had to cut back on many things, to be able to pay. I was definitely one of the fortunate.

But, we are so far away from the bust. So far away from 33.5 % of people being underwater with their home loans. It's a good thing.

Some day soon we will look back and think of these last few years as a distant memory. I'm hoping that we've learned enough not to make the same mistakes. We likely haven't all learned as much as we should. And, of course, there will be new buyers to make the same mistakes we did. New bubbles that will rise. Just praying that the bubble doesn't get so big again. So big that when it starts to deflate it doesn't lose air so rapidly that we have a repeat of our recent burst!

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