Home values have been losing ground for much of this year, with previously huge annual gains shrinking to nothing. The result is that homeowners are losing equity.

Borrower equity fell 2.1% in the third quarter of this year compared with the same period a year ago, or a collective $373.8 billion, according to a report from Cotality. This comes after years of steep home prices gains and record equity. Even after the drop, homeowners still have an overall collective net equity of $17.1 trillion for homes with a mortgage.

For the average homeowner, the third-quarter equity declines translate to a loss of $13,400. In addition, the number of homes in a negative equity position, meaning they are worth less than the mortgage on them, increased by 21% from a year ago to 1.2 million. 

“As the pace of home price growth slows and markets recalibrate from pandemic peaks, we’re seeing a clear shift in equity trends,” said Selma Hepp, chief economist at Cotality. “Negative equity is on the rise, driven in part by affordability challenges that have led many first-time and lower-income buyers to over-leverage through piggyback loans or minimal down payments.”

Those in a negative equity position likely purchased their homes more recently, when mortgage rates were higher and prices had peaked. Homeowners have also been pulling more equity out of their homes, thanks to huge gains in the last five years.

Home values are now roughly 52% higher than they were in January 2020, according to the S&P Cotality Case-Shiller national home price index. Even after mortgage rates increased in 2023, the average equity gain per homeowner was $25,000. In 2024, it was $4,900.

Not every market, however, is seeing the same dynamic. Boston, Chicago and New York City are all still in the positive, according to the Cotality report. The biggest losses were in Los Angeles, San Francisco, Washington, D.C., Miami and Houston, Texas.

“The future performance of highly leveraged loans will hinge on the strength of the U.S. economy and labor market. Even as expectations for continued price appreciation and economic resilience persist, it remains critical to closely monitor these loans in the months ahead,” Hepp said.

One of this year’s top food trends is facing some tough competition.

Protein captivated consumers and food companies in 2025, but fiber is increasingly stealing the scene as people place an increasing emphasis on promoting gut health.

It’s taken hold on social media, where “fibermaxxing” — or the concept of increasing fiber intake through whole foods like fruits and legumes — has seen thousands of posts.

“Fiber is finally getting a spotlight, which is a great thing because it’s a nutrient that people need,” said Stephanie Mattucci, principal strategist at food research company Mintel.

Currently, 90% of women and 97% of men in the U.S. are not meeting their daily fiber requirements, Mattucci said. For most Americans, that recommended range usually falls somewhere between 25 grams and 38 grams of fiber per day, she added.

But more people are beginning to take notice of those gaps.

According to Mattucci, 22% of consumers in the U.S. said high fiber content was one of their top three important factors when shopping for food — up from just 17% in 2021.

Wall Street’s companies are taking note, too. On an earnings call with analysts in October, PepsiCo CEO Ramon Laguarta said fiber was emerging at the forefront of the company’s product goals as it looked ahead to 2026.

“I think fiber will be the next protein,” Laguarta said. “Consumers are starting to understand that fiber is the benefit that they need. It’s actually an efficiency in U.S. consumers’ diets, and that will be elevated.”

In February, the company is going a step farther and plans to launch Smartfood Fiber Pop, featuring six grams of protein per serving, and SunChips Fiber, incorporating fiber variants like whole grains and black beans, Pepsi’s chief science officer, Tara Glasgow, told CNBC exclusively.

And there’s a reason companies are broadening their offerings. Research firm Datassential found that fiber is on track to be the “next big health trend following on the heels of protein” in its 2026 trends report.

Of the consumers the firm surveyed, 54% said they are interested in foods and beverages that are high in fiber. That number is even higher — reaching 60% — among members of Generation Z, who are pioneering the “fibermaxxing” trend on social media.

And 42% of consumers said they believe the attribute of “high fiber” on a nutrition label of any food or beverage product is important to defining that product as “healthy,” according to Datassential.

It’s that momentum that landed fiber as one of Whole Foods Market’s top trends for 2026.

Earlier this year, Coca-Cola launched its prebiotic soda, Simply Pop, with six grams of prebiotic fiber in five flavors to encourage gut health. Nestlé unveiled a new protein shake in June with four grams of prebiotic fiber designed specifically to support the digestive health of adults on GLP-1 medications.

Other companies like Olipop have also entered the prebiotic soda market, boasting recipes that promote gut health, while smaller businesses, like Floura protein bars and Sola Bagels, have also begun selling fiber-rich products.

Pepsi’s Glasgow told CNBC the company is taking every opportunity to explore consumers’ newfound interest in fiber. Glasgow said the research and development team’s work starts in science and follows trends to keep up with their audience’s evolving tastes.

Pepsi already has products on the market that specifically boast high fiber content, like its prebiotic cola and Quaker oatmeal. As consumers start to explore the previously “sleepy little nutrient,” Glasgow said, Pepsi is innovating new products across its beverages and food brands.

“We hear it from consumers as well that they’re becoming more knowledgeable about nutrition and their nutrition needs,” Glasgow said. “And I think that’s where the excitement is coming from. I feel it growing.”

Glasgow said the company, which already launched successful protein-packed products this year, is moving toward products that incorporate multiple sources of gut-healthy ingredients.

“We saw protein grow in a big way in the last couple years,” Glasgow said. “I think [consumers] are then expanding their view, and they realize there’s not one ingredient alone that is the silver bullet. It’s about getting the right ingredients all together.”

For some, fiber isn’t just a trend.

Naomi Aganekwu, a 27-year-old content creator, said she started incorporating fiber more intentionally into her diet last year. Now, she makes sure each meal she eats has at least five to 10 grams of fiber through foods like beans, lentils and chia seed puddings.

Aganekwu said she’s seeing results from incorporating fiber into her diet, like being satiated after meals and seeing her hormonal acne reduce. And as she’s championing fiber, she’s seeing the people around her do the same, especially among her generation.

It’s become personal for Aganekwu, too, whose father died earlier this year of colon cancer. Some research has shown fiber could prevent colorectal cancer in addition to promoting overall health, according to the National Institutes of Health.

“You don’t want to wait until you’re 60 or 70 and you’re dealing with more diagnoses,” she said. “There’s a lot that you can do, even just in your everyday choices, down to what you’re putting on your plate, that can directly impact your chances or decrease your chances of developing critical diseases.”