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Homeowners Are Pocketing Over $6 Trillion in Equity Post-Pandemic

Pro Builder

Homeowners Are Pocketing Over $6 Trillion in Equity Post-Pandemic. Record housing appreciation is helping some homeowners build substantial wealth, while would-be buyers are priced out on the opposite end of the housing market. . As housing appreciates at a record pace across the U.S., Mon, 05/02/2022 - 10:49.

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More Americans Became Equity Rich During the Pandemic

Pro Builder

More Americans Became Equity Rich During the Pandemic. As home prices reach record highs, more homeowners are gaining significant equity, meaning that some can even sell their homes for twice the amount they owe on their mortgages, according to Realtor.com. of homes with equity in the United States were equity rich compared with 28.3%

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Wealthy Boomers Are Pushing Millennials Out of the Housing Market

Pro Builder

In a pricier housing market, boomers are better equipped to compete for starter houses, Fortune reports. According to the Bank of America Institute, baby boomers are eight times wealthier than millennials with a net worth of $73 trillion compared to around $9 trillion accumulated by young buyers just entering the for-sale market.

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Wealthy Boomers Are Pushing Millennials Out of the Housing Market

Pro Builder

In a pricier housing market, Boomers are better equipped to compete for starter homes, Fortune reports. According to the Bank of America Institute, Baby Boomers are eight times wealthier than Millennials, with a net worth of $73 trillion compared with around $9 trillion accumulated by young buyers just entering the for-sale market.

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Ilke Homes went under owing £320m

Construction Enquirer

The scale of the modular house builder’s debts can be revealed after the Enquirer saw a statement of proposals issued to creditors by administrator AlixPartners. Money owed to unsecured creditors was £249m with the vast majority – £226m – made up of inter-company debts associated with losses suffered by equity investors.

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Everyone Wants in on Housing Flipping

Pro Builder

Everyone Wants in on Housing Flipping. One Long Island-based house flipper says now is the best time to be in the business, but finding inventory to rehab is the hard part. That was two housing booms back and long before measured-in-months loans to house flippers became some of the hottest properties on Wall Street.

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What to Expect in an Ongoing Home Price Bubble

Pro Builder

In comparison, home prices rise no more than 5% a year on average, and even during the 2005 housing bubble, price growth stayed under 12%. Market experts predict that current housing prices will stagnate for the coming year, though some regions with precarious price to income ratios could see a sudden drop depending on market conditions.

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