Homeowners are feeling ‘house rich, cash poor’
One in five U.S. homeowners say they feel house rich but cash poor, according to the newly released Hometap Homeownership Study. The rising costs of homeownership nationwide prompted nearly 20% of 675 homeowners surveyed to classify themselves as feeling “house rich, cash poor” most of the time, according to the study produced by Hometap, a firm that provides loan alternatives for tapping home equity. Seventy-three percent of respondents say they feel “house rich, cash poor” at least some of the time. This article originally appeared on Realtor Magazine. Read the full article.