`Rising home prices have already resulted in a $760 billion growth in home equity during the past year,` Yun said. `Given that each percentage point of price appreciation translates into an additional $190 billion in home equity, we could see close to a $1 trillion gain next year.`
The way that you look at a situation, issue, or problem has a great affect on the decision you make and the action you take on it.
For instance, how many people do you know see U.S. home owners gaining $1 trillion in 2013?
There are a lot of conditions that are pressuring the homes prics in the United States upward. Some of them include a decreasing supply of homes, slightly loosened (but still very tough) lending standards, and the lowest mortgage rates in history.
The outcome of this set of circumstances?
The national median existing-home price[sup]2[/sup] for all housing types was $178,600 in October, which is 11.1 percent above a year ago. This marks eight consecutive monthly year-over-year increases, which last occurred from October 2005 to May 2006.
