Two recent housing reports are confirming the same picture: Home owners are rapidly recapturing the equity they had lost in the last decade.
A sharp rise in home prices helped 2.5 million more mortgage borrowers eke out from being underwater in the second quarter, according to the latest report from CoreLogic. By the end of June, 14.5 percent of mortgage borrowers remained underwater on their loans, compared to 19.7 percent at the end of the first quarter. In late 2009, that percentage stood at 26 percent. Last week, RealtyTrac reported that since May, 600,000 home owners had emerged from being “deeply underwater,” owing more on their home than it is currently worth. China making Waves in US Real Estate....
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