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[quote=Anonymous][quote=Anonymous][quote=Anonymous]The supposed "real net worth" is due to housing prices increasing. I know some families who sold their houses and moved to lower COL cities. Then what? I don't know anyone who is happy that housing prices went up. [/quote]
Every homeowner is happy that housing prices are up - so two thirds of Americans. “The homeownership rate in the United States rose slightly in 2022, reaching the highest figure since 2011. In 2022, the proportion of households which are occupied by owners stood at 65.9 percent.”
https://www.statista.com/statistics/184902/homeownership-rate-in-the-us-since-2003/[/quote]

And, then, along comes 2023

[b]2023 U.S. home sales fell to nearly 30-year low[/b]

https://www.latimes.com/business/story/2024-01-19/2023-was-slowest-year-for-us-home-sales-in-nearly-30-years-as-high-mortgage-rates-frustrated-buyers

[b]Home Sales Were the Lowest in Almost 30 Years in 2023[/b]

"Home sales last year dropped to the lowest level in nearly three decades, after elevated mortgage rates and a lack of homes for sale shut out buyers. Existing-home sales slid 19% in 2023 from the prior year to 4.09 million, the National Association of Realtors said Friday."
https://www.wsj.com/economy/housing/home-sales-likely-fell-to-15-year-low-in-2023-3da220e1#[/quote]

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