Positive Equity

 

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Detroit, Las Vegas and Fort Myers, Fla., will take until at least 2020 to return homeowners to positive equity, CoreLogic said in a March report that compared prices in 10 metro areas. Atlanta, Dallas and California’s Riverside and San Bernardino counties will need until 2016. The Washington, D.C., area will take the least amount of time, with negative equity disappearing around 2015.

The slide in values and record-low interest rates may offer some bargains for property hunters. Prices have returned to historically affordable levels, said Karl Case, professor emeritus of economics at Wellesley College in and co-creator of the S&P/Case-Shiller index. He estimates a bottom for prices in six months. Making homes affordable and giving them buying options will be good for landscape contractors looking to build and maintain landscapes.

– Courtesy of Bloomberg News