You Made a Nice Profit Selling Your House? Beware What Happens Next
Tiffany Hagler-Geard/Bloomberg via Getty ImagesAs home values rise, owners tend to feel good about their growing equity. But there is a downside to home equity, according to recent research: The more equity homeowners have when they sell, the more they tend to overpay when they buy their next home.A
Homes in ‘Upward Mobility’ Areas Cost 38% More
It’s not just the house: Some neighborhoods offer more opportunities. In Fla., the home price difference between high- and low-opportunity areas runs as high as 64%.
Most Americans Can’t Buy a Nearby Home
NAHB’s 2Q comparison of selling prices ($388,000, nationally) to median incomes ($96,300) found only 40.5% of U.S. residents can afford a home at that price.
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