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Don't Worry, Its An Equitable Life - The Metro Mar 08

Housing crisis, what housing crisis? It appears there is nothing but good news for homeowners - they are sitting pretty on nearly £2trillion worth of equity.

One in four householders owns their home outright, amounting to £1.4 trillion, new figures show. A further one in three is paying a home loan but still has £580 billion of equity because of a long term rise in house prices.

The sizable sum means each household has an average £127, 455 in bricks and mortar.

"Many homeowners have benefited from significant growth in house prices in recent years. This has helped many build a reassuring cushion against any downturn", said Gerry Bell of GE Money, which conducted the research.