It’s Op-Ed Friday, and I’m trying to wrap my brain around this article from the San Jose Mercury News. The headline stated, "Despite housing market woes, most homeowners’ equity safe and growing" but the article stated:
The second-quarter equity number was down about $6 billion from the first quarter of the year, but was $48 billion higher than it was at the end of 2006. In other words, there’s no question that equity holdings have declined this year and may well be lower when the Fed issues its next quarterly report in mid-December.
While I’m still pondering how declining equity can be safe and growing, please post your links, comments, stories, and ideas for us.
