U.S. Housing Market Has Regained All Value Lost During Housing Crisis

U.S. Housing Market Has Regained All Value Lost During Housing Crisis

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The total value of the U.S. housing stock grew to a record-high $29.6 trillion in 2016, according to new analysis. The housing market saw a strong year of appreciation, growing 5.7 percent in value, or $1.6 trillion.

The cumulative value of all homes in the U.S. had declined by $6.4 trillion beginning in 2006 as the housing market collapsed.

A home is typically the biggest part of an individual or family’s wealth, and the cumulative value of the U.S. residential housing stock is similarly significant to the national economy. The U.S. GDP is an estimated $18.7 trillion, nearly $10 trillion less than the value of all homes in the country.

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The real estate website Zillow reports that Los Angeles and New York metros hold the highest shares of the country’s overall housing value, at 8.6% and 8%, respectively.

The next most valuable metro is San Francisco, worth 4.2% of the overall housing value.

(Source: Zillow)

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