Home prices are substantially higher than before the pandemic, but that hasn’t stopped people from buying lavish houses. A lot of it has to do with the sheer amount of equity that some buyers can deploy.
“Homeowners are sitting on a record amount of equity, and so those who don’t have a mortgage, who aren’t affected by today’s borrowing costs can make moves,” Realtor.com chief economist Danielle Hale said in an interview with CNBC last week.
