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IPFS News Link • Housing

Charles Hugh Smith: Housing and the Collapse of Upward Mobility

Now the average American household has little to no equity. The equity was either squandered in big-spending drawdowns of equity via home equity lines of credit, or it was lost in "moving up" in the housing bubble to costly big homeswhich have since deflated in value, wiping out the household equity--perhaps equity that had slowly been accumulated over three generations.