The pandemic housing boom means Americans have more home equity than ever. Households have added roughly $12 trillion in home equity since the end of 2019: {chart} To put this number in context, there was only ~$6 trillion in home equity following the bursting of the housing bubble following the Great Financial Crisis. Out of the $32 trillion in total equity, let’s say half of it is tappable (meaning homeowners can cash it out). That’s a lot of money just sitting there in an illiquid asset. The problem is no one is tapping it right now because mortgage rates are so high. No one in their right mind wants to do a ... (full story)