Christy,

I have pieced together some interesting information on Charlotte and the U.S. that I read today.  I hope you find it useful.  Though the numbers below are not all happy (nationally), look at where Charlotte sits right now by clicking the link:

http://www.mgic.com/pdfs/mt_charlotte_nc.pdf

Homeowners' equity had risen by $1.2 trillion in 2005 -- the height of the housing boom -- and by $237 billion last year.  This year the equity is down $128 billion due to price correction.

Homeowners' equity as a percentage of real estate values fell to a record low 50.4% from 51.1% in the second quarter. Before the housing boom began earlier in the decade, homeowners' equity was about 56% of the value of their real estate.

The figures were released Thursday in the Fed's flow of funds report, the most comprehensive look at the flows of assets and liabilities in the economy.

The Fed said households' net worth increased at the slowest pace since early 2006 during the third quarter even as households slowed their pace of borrowing.

Net worth rose at an annual rate of 4.4% to $58.6 trillion, the Fed said. Net worth had increased at a 7.8% pace in the second quarter.

The market value of holdings on real estate, including new structures, increased just $14.3 billion in the third quarter, the smallest increase in 13 years.

Despite the collapse of real estate, household assets increased $858 billion to stand at $72.8 trillion, while liabilities rose $233 billion to $14.2 trillion.

The market value of households' real estate holdings increased by $14.3 billion, while holdings of corporate equities rose $91.3 billion. Holdings in mutual funds grew by $82.4 billion.

Disposable personal income increased at a 6.1% annual rate to $10.25 trillion.

The pace of borrowing picked up during the quarter, boosted by more debt taken on in the corporate sector. U.S. nonfinancial businesses increased their debt at an annual rate of 11.9%, the fastest pace in eight years. Financial-sector debts grew 15.6%, also the most since 1999.

Household debts, meanwhile, grew 6.9%, the smallest increase since 1999. Mortgage debt grew 6.8%, the slowest in nine years.

The report showed that corporations retired $446 billion in equities, including $563 billion in purchases from the household sector and $116 billion from pension funds. Mutual funds, exchange-traded funds and insurance companies continued to be net purchasers of equities.