How Home Equity Helps Homeowners
March 08, 2018
March 8, 2018 |Master Brokers | 828-726-9180
Homeowners are seeing the benefits of home equity as the housing market recovers from the recession that started ten years ago. With home values now rising and the housing market becomes quite competitive, the equity is serving as a source of available cash to the homeowner. Below are the top three things that homeowners are doing with their equity:
- In 2017, remodeling spending was $152 billion and is expected to rise in 2018.
- Homeowners are using the cash from their home equity to pay down other debt in order to lower their monthly payments on that debt.
- Homeowners are taking out cash to make even more cash in the stock market or for purchasing more real estate.
There is definitely a strong confidence level with homeowners that property values will continue to rise in the near future.
Reference: CNBC News
