Homeowners’ equity rising in U.S.

The Boston Herald reports:

With all the grim news about underwater mortgages and rising foreclosures, you might be surprised to learn that homeowners’ equity stakes - a bellwether measure of the national housing market - has been on the rebound.

It hasn’t received much publicity, but the Federal Reserve’s latest “flow of funds” statistical report on the nation’s finances found that homeowners’ net equity holdings have increased from $5.9 trillion during the first quarter of 2009 - the hard bottom of the recession cycle - to just under $7 trillion through the second quarter of 2010, ending last June 30.