In the run-up to the 2008 crisis, owner's equity in real estate as a percentage of total real estate value reached record lows (i.e. it was highly leveraged).
Today, it is around the highest in modern history.
Today, it is around the highest in modern history.
The run-up to that 2008 crisis was also unusual in how much home equity lending was going on.
Home equity loans outstanding are way down in absolute terms, and are at the lowest since the late 1980s as a percentage of real estate value.
Home equity loans outstanding are way down in absolute terms, and are at the lowest since the late 1980s as a percentage of real estate value.
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