Home equity down to pre-WWII levels

June 9, 2011 7:44:20 PM PDT
If you're looking for a measure of how bad things are getting in the economy, look no further than the state of today's home equity.

The Federal Reserve says Americans own a smaller proportion of their homes now than at any time since World War II.

In 2001, Americans owned about 61 percent of their homes.

Now, Americans own around 38 percent.