{"id":10180,"date":"2016-12-28T09:03:45","date_gmt":"2016-12-28T15:03:45","guid":{"rendered":"https:\/\/therealdaily.com\/?p=10180"},"modified":"2016-12-28T11:05:21","modified_gmt":"2016-12-28T17:05:21","slug":"homeowners-wealth","status":"publish","type":"post","link":"https:\/\/theamericangenius.com\/housing\/homeownership\/homeowners-wealth\/","title":{"rendered":"Homeowners became an average of $4,680 wealthier this year"},"content":{"rendered":"

Silver lining, folks<\/h2>\n

It\u2019s a safe assumption that 2016 isn\u2019t likely to appear on the \u201cBest Years\u201d list of anyone inclined to write \u201cBest Years\u201d lists. We lost luminaries, endured a straight-up nasty election, and in general lived through the kind of three hundred and sixty five that folks generally seem quite happy to ditch on the ash heap of history.<\/p>\n

Read also: True success is measured by how often you can enjoy a nap<\/a><\/strong><\/div>\n

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\nSo how about we finish this thing with some unabashed good news?<\/p>\n

Unprecedented highs<\/h2>\n

Per the S&P CoreLogic Case-Shiller National Index<\/a> and the National Association of Realtors, single-family home value is up nationwide. Compared to this time last year, single-family homes in the United States have risen in value by a remarkable 5.6 percent, hitting an unprecedented high this October.<\/p>\n

S&P’s 10-City Composite reported a 4.3 annual gain, while the 20-City Composite had a 5.1 percent increase. Both divisions showed .1 percent increases from previously reported months. Seattle had the largest year-over-year gain, with 10.7 percent, while Portland came in close second at 10.3 percent. Denver also saw a notable increase at 8.3 percent.<\/p>\n

Not only does this mean bigger paychecks for realtors \u2013 and ain\u2019t nothing wrong with that \u2013 it represents the continued recovery of the American economy.<\/p><\/blockquote>\n

The wealth of homeowners has risen to the effect of 351 billion dollars of new equity nationwide. The Economist<\/a> notes that shakes out to a rise of $4,680 for each of the 75 million homeowners of America.<\/p>\n

Adios, 2016<\/h2>\n

That\u2019s more than a comfy chunk of change. It\u2019s a strong, widely distributed improvement in American economic and social well-being.<\/p>\n

However, although this is great news, mortgage interest rates are expected to continue rising, according to David M. Blitzer at S&P Dow Jones Indices (which echoes endless statements from NAR this year).<\/p>\n

While consumer confidence is at a high and unemployment at a low, affordability may become an issue.<\/p><\/blockquote>\n

Blitzer notes that “home prices cannot rise faster than incomes and inflation indefinitely.”<\/p>\n

It\u2019s been a rough year across the board for a lot of people. But a stronger financial foundation throughout the country is a pretty decent farewell.<\/p>\n

#EconomicRise<\/h3>\n","protected":false},"excerpt":{"rendered":"

(HOMEOWNERS NEWS) Not only does this mean bigger paychecks for realtors \u2013 and ain\u2019t nothing wrong with that \u2013 increased values represents the continued recovery of the American economy.<\/p>\n","protected":false},"author":337683,"featured_media":10193,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"wds_primary_category":0,"footnotes":"","jetpack_post_was_ever_published":false,"_links_to":"","_links_to_target":""},"categories":[602],"tags":[981,1355,1075,1234,1170],"class_list":["post-10180","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-homeownership","tag-981","tag-economic","tag-homeowner","tag-real-estate-news","tag-wealth"],"jetpack_featured_media_url":"https:\/\/theamericangenius.com\/housing\/wp-content\/uploads\/sites\/2\/2016\/12\/money.jpg","jetpack_sharing_enabled":true,"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/10180","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/users\/337683"}],"replies":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/comments?post=10180"}],"version-history":[{"count":8,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/10180\/revisions"}],"predecessor-version":[{"id":10203,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/10180\/revisions\/10203"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/media\/10193"}],"wp:attachment":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/media?parent=10180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/categories?post=10180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/tags?post=10180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}