Net Worth Increases The Most Among The Least Wealthy
Earlier this year The Wall Street Journal reported that the red-hot U.S. housing market is giving an extra boost to the cheapest houses… (Wall Street Journal)
- “U.S. ZIP Codes where the median home cost less than $100,000 in early 2018 have had a 42% rise in prices in the three years since then, according to a CoreLogic Inc. analysis for The Wall Street Journal. That is about double the rise for ZIP Codes where the median was between $150,000 and $200,000, and triple the rise in locales with $300,000-plus price tags.”
Now we have some great news from the Federal Reserve as new data shows that net worth among the least wealthy increased the most in 2020… (FRED BLOG)
- “By the second half of the year, the growth in home prices yielded larger gains to the bottom 50% of households by wealth. This group holds a larger proportion of their wealth in real estate assets…”
While it is unfortunate that many Americans have missed out on the booming housing market it is great to see that those who were able to buy a house these last few years are seeing the benefit of that decision.