The Connection Between Home Prices & Family Wealth
How about earning a projected $43,000. increase in equity, before mortgage payments, on a $250,000. house over the next 5 years.... Considering an FHA downpayment is just 3.5% - $8750 to get in... Where else could you get that kind of return?
Over the next five years, national home prices are expected to appreciate 3.22% per year on average and to grow by 17.3% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey. Southlake, Grapevine, Trophy Club, and surrounding areas are expected to do even better.
So, what does this mean for homeowners and their equity position?
As an example, let’s assume a young couple…