The U.S. property market is booming, many owners are waiting for the opportunity to refinance their properties to get more cash on hand to meet their personal financial needs under the Epidemic! U.S. mortgage lender Freddie Mac announced that last year, local homeowners increased their mortgages by $152.7 billion (about $1.19 trillion), a 42% year-on-year increase, and the most since the property market exploded in 2007.
In addition to dealing with the economic uncertainty under the epidemic, many homeowners also want to “stay Home” to improve their living environment during the fight against the epidemic, using the mortgage to get cash to pay for home renovation costs.
Susan Wachter, an economist and professor at the University of Pennsylvania, said that from the standpoint of homeowners, refinancing is a significant source of financial support that can help mitigate the decline in living standards caused by the epidemic.
Although the past economic downturn to live with falling property prices, but this Time the recession triggered by the epidemic is different, property prices continue to climb in the ultra-low interest rate environment. The median price of second-hand properties in the United States in December last year was about $310,000, up nearly 13% over the same period the year before, and the rise in the property market spread from large cities to suburban areas, reflecting the growing number of American people reassessing their living conditions after the outbreak of the epidemic.
Before the financial tsunami, many U.S. homeowners also use their homes to increase the mortgage, as an ATM (ATM) to afford personal consumption, but when the property market boom, the property will become a negative asset.
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