[JasonC]

Home equity is also at all time highs. People most emphatically do own their homes. They also hold cash in bank accounts equal to all the mortgages there are - do you think banks don't have debts as well as assets?

[HiTech RedNeck]

Home equity is also at all time highs.

Because of insane price inflation fueled in turn by easy mortgage money.

[raybbr]

Home equity is also at all time highs.

So what? Equity is not a tangible asset.

People most emphatically do own their homes.

Really? Can I tear down my walls and build my house bigger or smaller without notifying the bank or the town?

Are you a first year economics student? Do you "own" a home?