The $7 Trillion Hole in the Economy

Would you be tightening your belt if your house had dropped $50k-$60k in value in the last four years?


And if you’d taken out a home equity loan against your home when it was worth $50k-$60k more . . . almost definitely.

Now, take that $50k-$$60k drop in home equity, and multiply that by . . . . every homeowner in the country.

Yup, that’s how much the average homeowner is down since 2006 ($54k per home, to be precise).

That equates to a national average 30% drop in home prices from the peak, or over $7 trillion in shrunken home values.

Hmmm . . . could be that that something to do with the not-so-robust economy (at least away from Wall Street).

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

Leave a Reply