February 5, 2010
By Sophia Stuart, Research Economist
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- The median value of home equity for homeowners was nearly 10 times the median value of stock wealth for stockholders at the end of 2007.
- Among seniors, home equity makes up a large portion of portfolios, accounting for 26 percent of household wealth among all elderly and 59 percent among the low-income elderly in 2007.
- The Federal Reserve estimates that real home equity fell by $2.5 trillion in 2007 and 2008- BUT still these declines combined are less than the $5.3 trillion plunge in the real value of stocks and mutual funds held by households in 2008.
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Source: The State of the Nation’s Housing 2009, Joint Center for Housing Studies of Harvard University
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