Iridium Development Inc Logo ST. PETERSBURG, Fla., Oct. 01, 2025 (GLOBE NEWSWIRE) -- Iridium Development Inc today announced its focus on building elevated homes in Florida designed to help protect homeowners from potential flood damage while also adding value in long-term homeowner equity. With many Florida communities facing increasing exposure to storm surges, rising water, and coastal flooding, the company aims to deliver housing solutions that combine resilience, affordability, and financial security. ...

Core Insights - American homeowners experienced an average equity decline of $9,200 over the past year due to rising interest rates, but experts view this as a market reset rather than a collapse [1][2][3] Homeowner Equity - Home equity fell by $141 billion, or 0.8% year-over-year, reaching $17.5 trillion in Q2, with the number of homes in negative equity increasing by 18% to 1.15 million [2] - Despite the decline, the average American borrower still holds approximately $307,000 in equity, marking the third-highest level on record [3] Market Conditions - The housing market has transitioned from a period of rapid growth to a plateau, indicating a long-term market correction rather than a collapse [3] - In regions like Washington, D.C., and Florida, where equity fell by $34,000 and $32,000 respectively, homeowners still maintain significant equity cushions [4] Affordability Concerns - The U.S. housing market is facing challenges as home prices lag behind inflation, making ownership less affordable despite values remaining near record highs [4][5] - The Case-Shiller index reported a 0.3% monthly decline in June, marking the fourth consecutive drop, with annual growth slowing to 2.1% compared to a 2.7% rise in consumer prices [5] Criticism of Mortgage Giants - Economist Peter Schiff criticized Fannie Mae and Freddie Mac for inflating demand and pushing prices higher, which he argues has turned the "American Dream" into a debt trap for many [6]