Shedding equity: Housing slowdown leads to first annual drop in US homeowner equity since 2012
FILE - This is a new housing development in Middlesex Township, Pa., on Oct. 12, 2022. Among the roughly 63% of U.S. homes with a mortgage, average homeowner equity per borrower was $274,070 in the first quarter of 2023, down 1.9% from the same quarter last year, according to real…