LA homeowners’ $760B in real estate equity is tops in nation: report

The amount was double New York City's total

Los Angeles /
Apr.April 08, 2019 02:00 PM
Los Angeles (Credit: iStock)

Los Angeles and Orange County homeowners collectively have $760 billion in real estate equity, tops in the nation.

With median-priced homes remaining out of reach.

for average-earning residents in the U.S., residents in those two counties that can afford high-priced homes collectively own $760 billion in “tappable equity,” according to a study by real estate analyst Black Knight, as reported by Curbed.

That $750 billion number comes despite a $40-billion drop since last summer, according to the report.

L.A.’s equity dwarfs the $395-billion mark in New York City, and is twice that of the entire state of Texas. The real estate values were determined by calculating the amount of funds that can be accessed by selling, taking out loans or making a cash-out refinance to replace mortgages with larger loans.

Median home prices are at near record-highs even as the market continues to slow. A February report showed that the average annual wage wasn’t enough to afford a median-priced home in Los Angeles County. [Curbed]Gregory Cornfield


Related Articles

arrow_forward_ios
Rochelle Atlas Maize, Derek Reilly, Cindy Carvel Vincent Vallejo, Derek Reilly, Cindy Carvel)
Agents shift home price strategy as bidding wars deflate
Agents shift home price strategy as bidding wars deflate
46-percent rise in SoCal home payments
Falling SoCal home sales caused by 46% rise in payments
Falling SoCal home sales caused by 46% rise in payments
(Illustration by Kevin Cifuentes for The Real Deal with Getty Images)
Home prices in SoCal fall 1.3% in 30 days, data show
Home prices in SoCal fall 1.3% in 30 days, data show
(Illustration by The Real Deal with Getty Images)
Rising interest rates put brakes on home sales
Rising interest rates put brakes on home sales
Compass' Aaron Kirman with 1047 North Bundy Drive (Compass, Zillow)
Trousdale Estates mansion sells for $42M after price cuts
Trousdale Estates mansion sells for $42M after price cuts
Eric Sussman, Kerry Ann Sullivan, Dana Potter and Eric Finnigan (Eric Sussman, Kerry Ann Sullivan, Dana Potter, John Burns Real Estate)
‘Yawn’ or ‘cold water’ on this week’s rate hike?
‘Yawn’ or ‘cold water’ on this week’s rate hike?
Placeholder image
Analysts see likely dip in SoCal home prices
Analysts see likely dip in SoCal home prices
UCLA's Jerry Nickelsburg (UCLA Anderson School of Management, iStock)
Uptick in homebuilding won’t bring enough supply to trim prices: UCLA Anderson survey
Uptick in homebuilding won’t bring enough supply to trim prices: UCLA Anderson survey
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...