Having a dream of your house is the best thing you ever want after finishing college but with the economic recession we cannot afford to pay the expenses of the house because of high mortgage and dealing with new laws that can cause problems with our finances. according to the Federal Reserve, the total of all assets minus liabilities has been around $86.8 trillion with the first half of 2015.
Home equity has been rebuilt as home prices have steadily recovered in recent years and mortgage debt has grown slowly. When home prices plunge, many families found out that their homes were underwater and that their homes are less than their mortgage.
As of now there is a 4.4 million homes that still have a negative equity and the government is trying to find a solution or a least a project to solve the problem. Comparing this back in 2008 i think that the U.S Household has slowly starting to improve because back in 2008 we had the economy recession in which many companies were going bankrupt and the mortgage were increasing substantially and many families had to leave their homes because of high price and some had lost their jobs. Hopefully by the upcoming years the mortgage improves and change new policies so that families wont lose their homes.
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