The Federal Reserve on Thursday announced that, in 2007, American ownership in their homes as measured by equity fell below 50 percent for the first time since records were first kept in 1945 . During the 2nd quarter of 2007 the central bank reported that homeowners' equity slipped to a downwardly revised...
In spite of declining house prices and tightening credit, Americans are continuing to pull cash out of their homes according to Freddie Mac's Cash-Out Refinance Report for the fourth quarter of 2007, but in fewer numbers and much lower amounts than recorded even one quarter earlier. 81 percent of Freddie...