Hoyes Michalos

Apr 3, 2024 | hoyes.com | Hoyes Michalos |J. Douglas Hoyes |Doug Hoyes

Hoyes, Michalos has been tracking and reporting on homeowner insolvencies since 2007. Our homeowner insolvency index peaked in 2011 at 29.1% and has fallen steadily, reaching a low of 1.6% in 2022 and rising to 4.2% in the first two months of 2024. Until recently, homeowner insolvencies have been depressed due to rising home prices, allowing heavily indebted and vulnerable homeowners to tap into the resulting rising home equity to refinance rather than file insolvency.