Southern California homeowners have $1.645 trillion of tappable equity

Southern California homeowners have $1.645 trillion of tappable equity

U.S. homeowners, some 48 million of them, are sitting on a record $17.6 trillion in total home equity and $11.5 trillion in tappable equity, according to Intercontinental Exchange. Tappable equity means there is at least 20% equity in the property. For example, a $1 million home would have at least $200,000 of equity after any liens are considered. Let’s drill down on tappable equity in California. Statewide, homeowners have $3.269 trillion of s…