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Posted by
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US homeowners hit the jackpot. Median homes up 53% from Jan 2020 to Aug 2023
Posted by Street Hawk on 9/30/23 at 11:37 am
4
53quote:
US homeowners who are downsizing are "lucky," Skylar Olsen, Zillow's chief economist, told MarketWatch.
US home prices have gained strongly since January 2020, which would help fund their next home purchase.
Those who are able to downsize without a mortgage are the luckiest, said Olsen.
US home sales may have plunged, but homeowners who are downsizing could still be striking the lottery on the back of strong price gains, an economist told MarketWatch on Wednesday.
"The reason why I say lucky is because what happened over the last three years was stunning and, in some ways, was a bit like winning the lottery," Skylar Olsen, the chief economist at real estate company Zillow, told MarketWatch.
For context, the value of the US housing market has surged about 50% from the pre-pandemic days in January 2020 to nearly $52 trillion now, Zillow reported Tuesday.
California is the US's most valuable housing market, Zillow says. The state's housing market is now worth over $10 trillion — nearly 20% of the national total. Other top US housing markets by value in the Zillow report include Florida, New York, Texas, and New Jersey.
The median price of an existing home in the US rose nearly 53% from $266,300 in January 2020 to $407,100 in August 2023, the National Association of Realtors found. Higher home prices and mortgage rates have hit home sales, which have plunged to about 4 million homes a year, down from about 6.6 million a year in late 2020, NAR reported.
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re: US homeowners hit the jackpot. Median homes up 53% from Jan 2020 to Aug 2023Posted by captron 
on 9/30/23 at 11:50 am to Street Hawk
on 9/30/23 at 11:50 am to Street HawkThe cost to replace your house also rises unless you want to join the tent dwellers. You also get to give the gummit more in taxes.
re: US homeowners hit the jackpot. Median homes up 53% from Jan 2020 to Aug 2023Posted by Klark Kent 
on 9/30/23 at 11:52 am to Street Hawk
on 9/30/23 at 11:52 am to Street Hawkcool.
you can sell your house then buy less house for more! along with doubling your interest rate! #BBB
you can sell your house then buy less house for more! along with doubling your interest rate! #BBB
re: US homeowners hit the jackpot. Median homes up 53% from Jan 2020 to Aug 2023Posted by tiggerthetooth 
on 9/30/23 at 11:54 am to Street Hawk
on 9/30/23 at 11:54 am to Street HawkSure, you make a lot and then you have to spend a lot to get a new one. All evens out.
re: US homeowners hit the jackpot. Median homes up 53% from Jan 2020 to Aug 2023Posted by LoneStar23 
on 9/30/23 at 11:55 am to Street Hawk
on 9/30/23 at 11:55 am to Street HawkSuch a disingenuous article, yet another propaganda piece
re: US homeowners hit the jackpot. Median homes up 53% from Jan 2020 to Aug 2023Posted by Townedrunkard 
on 9/30/23 at 11:59 am to Street Hawk
on 9/30/23 at 11:59 am to Street HawkAnother liberal dipshite trying to put lipstick on a pig for what has occurred in the US under Biden….
re: US homeowners hit the jackpot. Median homes up 53% from Jan 2020 to Aug 2023Posted by jamiegla1 on 9/30/23 at 12:01 pm to Street Hawk
and what is it compared to wages and interest rates?
re: US homeowners hit the jackpot. Median homes up 53% from Jan 2020 to Aug 2023Posted by nugget on 9/30/23 at 12:03 pm to Street Hawk
I get the realtors email every month for LA and TX that talks about the state of the market. Homes are moving even close to as fast, listings are down double digit % and prices are starting to come down.
re: US homeowners hit the jackpot. Median homes up 53% from Jan 2020 to Aug 2023Posted by Jcorye1 on 9/30/23 at 12:11 pm to Townedrunkard
quote:
Another liberal dipshite trying to put lipstick on a pig for what has occurred in the US under Biden….
Trump spent money like nobody's business as well. Stop arguing sides, argue against government intrusion and taxes.
re: US homeowners hit the jackpot. Median homes up 53% from Jan 2020 to Aug 2023Posted by RandoBigot on 9/30/23 at 12:13 pm to Street Hawk
Wish I was ready to downsize and get even more rural than I currently am.
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re: US homeowners hit the jackpot. Median homes up 53% from Jan 2020 to Aug 2023Posted by tigersmanager 
on 9/30/23 at 12:18 pm to Street Hawk
on 9/30/23 at 12:18 pm to Street Hawkdemocrats don't understand economics
quote:
Trump spent money like nobody's business as well. Stop arguing sides, argue against government intrusion and taxes.
Dont waste ur time, there are too many lazy people willing to just blame whomever is currently occupying the White House (especially if that person isnt in their own politcal party)- instead of just putting 30 seconds of thought into it and realizing it might be a tiny bit more complex.. Just be lazy and say “Lets Go bRanDoN !!!”
re: US homeowners hit the jackpot. Median homes up 53% from Jan 2020 to Aug 2023Posted by Darth_Vader 
on 9/30/23 at 12:25 pm to Street Hawk
on 9/30/23 at 12:25 pm to Street HawkThe only thing OP has proven with this thread is the effectiveness of leftist propaganda on the feeble minded among us.
re: US homeowners hit the jackpot. Median homes up 53% from Jan 2020 to Aug 2023Posted by East Coast Band 
on 9/30/23 at 12:26 pm to Street Hawk
on 9/30/23 at 12:26 pm to Street HawkIs the writer insinuating that rising home prices are all good and no downside?
Says it helps "downsizers" .
Typically a person only downsizes homes once in their lifetime, yet will upsize many times.
What a shite article
Says it helps "downsizers" .
Typically a person only downsizes homes once in their lifetime, yet will upsize many times.
What a shite article
This post was edited on 9/30 at 12:29 pm
re: US homeowners hit the jackpot. Median homes up 53% from Jan 2020 to Aug 2023Posted by 632627 
on 9/30/23 at 12:26 pm to Street Hawk
on 9/30/23 at 12:26 pm to Street HawkI think the term downsizing is inaccurate, and they should use the term "down-market".
I'm in California and selling my current home and getting something smaller in Cali is pointless.
However, I can sell my house and take all my equity to a cheaper market and pay cash for a significantly larger/better property.
I'm in California and selling my current home and getting something smaller in Cali is pointless.
However, I can sell my house and take all my equity to a cheaper market and pay cash for a significantly larger/better property.
This post was edited on 9/30 at 12:38 pm
re: US homeowners hit the jackpot. Median homes up 53% from Jan 2020 to Aug 2023Posted by Klark Kent on 9/30/23 at 12:29 pm to BK Lounge
on 9/30/23 at 12:29 pm to BK Loungequote:
Dont waste ur time, there are too many lazy people willing to just blame whomever is currently occupying the White House (especially if that person isnt in their own politcal party)- instead of just putting 30 seconds of thought into it and realizing it might be a tiny bit more complex.. Just be lazy and say “Lets Go bRanDoN !!!”
like you have a leg to stand on
This post was edited on 9/30 at 12:30 pm
re: US homeowners hit the jackpot. Median homes up 53% from Jan 2020 to Aug 2023Posted by BK Lounge on 9/30/23 at 12:36 pm to Klark Kent
quote:
like you have a leg to stand on
As a Registered Independent[tm] who voted for both Bill Clinton AND Ronald Reagan (ok i was too young to vote for RWR but i would have)- i have more of a leg to stand than partisan hacks like urself .
re: US homeowners hit the jackpot. Median homes up 53% from Jan 2020 to Aug 2023Posted by Klark Kent on 9/30/23 at 12:44 pm to BK Lounge
on 9/30/23 at 12:44 pm to BK Loungequote:
As a Registered Independent[tm] who voted for both Bill Clinton AND Ronald Reagan (ok i was too young to vote for RWR but i would have)- i have more of a leg to stand than partisan hacks like urself .
no one. no one buys any of this shite based on your post history.
re: US homeowners hit the jackpot. Median homes up 53% from Jan 2020 to Aug 2023Posted by Rize 
on 9/30/23 at 12:48 pm to Street Hawk
on 9/30/23 at 12:48 pm to Street HawkMoved into my house in 2020 and now I’m selling and can pay cash for a nice house around 3200 sqft if I wanted. My stupid arse ain’t going to do that and I’ll probably go bigger 
Would be nice to not have a mortgage at 42 though so I’m still undecided.
Would be nice to not have a mortgage at 42 though so I’m still undecided.
This post was edited on 9/30 at 12:53 pm
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