"The Federal Reserve's Survey of Consumer Finances revealed that median net housing value rose 44% from 2019 to 2022, indicating a significant increase in homeowner equity."
"The ratio of median home value to median family income reached 4.6 times in 2022, surpassing the previous peak of 4.2 in 2007, highlighting affordability issues."
"The gains in housing wealth were not evenly distributed, as real median net worth surged 37% overall, with the housing component driving a meaningful share of that increase."
From 2019 to 2022, median net housing value increased by 44%, rising from $139,100 to $200,000. This surge in equity occurred as mortgage debt remained nearly unchanged. The affordability ratio for new buyers reached 4.6 times median family income, surpassing the previous peak of 4.2 in 2007. The wealth gains were unevenly distributed, with the bottom 90% of income earners experiencing significant challenges in accessing affordable housing during this period.
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