During the housing market crash, Gen X homeowners lost more wealth than other generations. However, things are changing now! A strong economy, increasing home prices, and the recovery of the housing market are helping this generation to regain their lost wealth.
“Their fortunes have rebounded more than those of other generations during the post-recession economic expansion and as home and stock prices have risen. Since 2010, the median net worth of Gen X households has risen 115%. In fact, in 2016, the most recent year with available data, the net worth of a typical Gen X household had surpassed what it was in 2007 ($84,200 vs. $63,400)”.
The same report also mentioned,
“15% of Gen X’s homeowners were ‘underwater’ on their homes in 2010 (meaning they owed more than they owned). By 2016 only 3% were underwater.”
As a result of homes regaining market value and their increasing net worth, many Gen Xers are presented with the opportunity of selling their current home in order to move up to the house they always dreamed of!
About Smith International Realty | DouglasSmithTeam.com
Welcome to the Family!
It is because of people like you that we enjoy doing what we do. It is our phenomenal clients that make this company great. We try to reflect that in every communication that we have with you. As a valuable part of the family, we want all of your experiences to be exceptional ones. Again, welcome to Smith International Realty/DouglasSmithTeam.com, and thank you for choosing us! - Douglas Smith COO, Director
Mortgage interest rates have dropped considerably this spring and are
"★★★★★ 4 months ago Bought a home from ya'll 6 months ago an could not be happier. Since it was my first time they madfe the whole thing so much simpler than I ever thought it could be. THanks Doug!! You are the best, and ya'll will have to come over for a bbq soon!!!"