Mortgage Debt Has Peaked. Why Has the Share of Homeowners with a Mortgage Fallen to a 13-Year Low?
Urban Institute, Aug. 20, 2019–Michael Neal
The household-owned value of the U.S. housing market is at an all-time high of $26.12 trillion–significantly higher than the pre-crisis peak of $22.68 trillion in 2006. Housing equity and non-HELOC (home equity line of credit) mortgage debt outstanding are also at historic highs. At the same time, the share of homeowners with a mortgage, at 62.9 percent, is at the lowest level since at least 2005.
