Home News Louisiana now last in the U.S. in equity-rich homes, second-worst rate of homes seriously underwater | Business

Louisiana now last in the U.S. in equity-rich homes, second-worst rate of homes seriously underwater | Business

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Data show that Louisiana is the last in the United States in terms of the percentage of mortgages declared to be equity-rich and has the second highest amount in the serious underwater category.

Only 21.6% of mortgage mortgages were classified as equity rich. In other words, the total estimated loan balance secured by these properties was less than 50% of the estimated market value. 2022 US Home Equity and Underwater Report from ATTOMNational land and property data organization.

The state tax rate fell from 22.5% in the previous quarter, but rose from 15.7% a year ago. However, the increase lags behind other states, with Louisiana being one of four states that declared a decline in housing proportions from the previous quarter.

In Idaho, Boise is one of the country’s most popular real estate markets, with 68.8% of homes classified as equity rich, up from 50.6% a year ago.

The surge in real estate sales over the past two years has led to higher home prices across the country, with 44.9% of all homes declared equity-rich, up from 41.9% in the previous quarter and 31.9% a year ago.

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The report states that 11.3% of Louisiana homes are in severe water, the second highest in the country. This is an increase from 10% in the previous quarter, well above the national average of 3.2%.

Mortgage homes that are considered serious underwater have a total estimated balance of real estate loans that is at least 25% higher than the estimated market price, the report shows.

Of the 30 parishes reported, the Vernon parish had the overwhelming majority of homes classified as severe underwater (34.6%) and the lowest proportion of stock-rich homes (7.2). Reidsville’s zip code had the lowest number of equity-rich homes in the country (6.8%), categorized by US 8,705 zip code reports.

Other parishes with a low percentage of equity-rich housing were Borigard (11.7%), Iverville (12.2%), Ascension (12.8%) and Bosier (14.1%). Other parishes with a high percentage of housing listed as serious underwater were Webster (22.6%), Lafourche (20.1%), Calcasieu (18.8%), and Iberville (18%).

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