Part of the American Dream is home ownership and some of the wealthiest, most successful investors say that owning real estate was their path to wealth. With some of the nation’s highest median home prices—and more than a few of its priciest individual homes—Los Angeles property owners collectively possess a massive pool of real estate equity worth an astonishing $760 billion.
That’s according to a new report from real estate analyst Black Knight. The study shows that Los Angeles leads the nation in “tappable equity,” that is, the value of homes that owners can access by selling or refinancing.
The amount of equity accessible to homeowners in the LA metropolitan area, which includes Los Angeles and Orange counties, is nearly double that of New York ($395 billion) and fully twice that of the entire state of Texas ($322 billion).
Black Knight’s numbers highlight the financial resources available to LA homeowners—particularly those who have paid off a sizable portion of their mortgages. That wealth can be accessed by selling, by using equity to take out loans, or through a cash-out refinance. LA real estate may be expensive, but it pays off.
Contact us for more information about getting in on LA’s tappable equity market.
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