From Time Inc.:

1. Fannie Mae CEO Priscilla Almodovar stated last year how in America the value of property is exacerbating the gap between the rich and the poor. The U.S. housing market is now a tale of two markets with an exceedingly expensive housing market and mortgage rates not seen in decades.

2. The total value of owner-occupied mortgaged homes in America has nearly doubled over the last decade, from $13 trillion to $24 trillion last year. This staggering appreciation of U.S. home values has underlined the divide between homeowners and renters who are trying to break into the housing market at exceedingly high prices.

3. LendingTree released a report illustrating how home values have grown, offering insights into the overall state of the housing market which can be helpful to consumers. With mortgage rates and home prices at record highs, new buyers are facing challenges in deciding whether it’s worth it to buy a home.

4. Millennials may make up the biggest piece of the homebuying pie, but baby boomers still hold triple the housing equity compared to millennials. Baby boomers have held $18 trillion in home value as of June 2023 according to Redfin, which indicates their dominance of the housing market.

5. Living in so-called expensive cities with high total home values like New York, Los Angeles, and San Francisco can be tricky for consumers in terms of individual home prices and available inventory levels. However, such metro areas also tend to offer higher-paying jobs, retail and entertainment options, which may be more challenging to find in suburban areas.



Read more: The total value of U.S. housing jumped almost 50% in 5 years—and boomers are winning in this economy