Time heals all wounds – that breakup, that time you spilled coffee on your boss, and oh yeah – that time when the real estate bubble burst in 2008.
10 years following the crash, LendingTree released new data that shows how the market has grown and changed since then. While several markets haven’t fully recovered, it shows that most home values have even exceeded their 2006 highs.
Median home values, on average, have climbed $50,000 across the 50 largest housing markets across the U.S since 2009.
2008 showed almost 80% of debt coming from mortgages – whereas in 2018 showed as $72% – student loans have grown to take up a different category of debt.
Aside from San Antonio, LendingTree reports that the median household income has increased by an average of $11,344 in every metro since 2009. With unemployment declining and incomes relatively rising, the real estate market has had some help getting back on its feet.