According to ATTOM Data Solutions’ Q3 2019 US Home Equity and Underwater Report, 26.7% or 14.4M of 54M mortgaged properties are considered to be equity rich. Just 3.5M, or one in 15 mortgaged properties, 6.5%, are considered to be seriously underwater.

Todd Teta ATTOM’s chief product officer, said, “The latest numbers reveal another profound impact of the extended housing boom, as far more homeowners find themselves on the right side of the balance sheet instead of the wrong side. This is a complete turnaround from what was happening when the housing market crashed during the Great Recession. 

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The highest shares of equity rich properties during Q3 2019 were located in states in the Northeast and the West:

– California                 +40.8%

– Hawaii                      +39.2%

– Vermont                   +39.0%

– New York                 +35.7%

– Washington             +35.6%

The highest share of equity rich metros with populations of at least 500,000 included:

– San Jose                +62.7%

– San Francisco          +51.1%

– Los Angeles             +46.6%

– Santa Rosa CA         +46.5%

– Dallas                      +38.2% (led the South)

– Boston                     +35.9% (led the NE)

– Honolulu                  +33.4%

– Grand Rapids MI        +27.8% (led the MW)

Ten of the top 25 equity rich counties in Q3 2019 were located in California:

– San Francisco             +70.5%

– San Mateo                  +68.6%

– Santa Clara                 +63.6%

– San Juan WA               +60.9%

– Kings County NY           +55.6%

The top ten states with the largest shares of seriously underwater mortgaged properties included:

– Louisiana                      16.5%

– Mississippi                    15.8%

– West Virginia                 14.2%

– Ohio                             14.0%

– Arkansas                       13.1%

Underwater metro areas with populations of more than 500,000 included:

– Youngstown OH              16.8%

– Baton Rouge LA              15.7%

– Scranton PA                    14.3%

– Cleveland OH                  14.0%

– Toledo OH                       13.8%

– Akron OH                        13.0%

– New Orleans LA               12.7%

– Syracuse NY                    12.3%

– Dayton OH                      11.5%

Memphis TN-MS-AR           10.6%


Thanks to ATTOM Data Solutions for source data.

Also read: Podcast: 5 Proven Steps To Become Rich (and STAY Rich) (Part 2), Apple Steps Up to the Plate with Google and Facebook to Confront CA Housing Crisis, 7 North American Cities Most At Risk of Crash

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