Americans Recover $7 Trillion In Home Wealth as Prices Firm
In March 2014, Steven and Bernadette Doherty paid $183,000 for a two-bedroom home in Charlotte, N.C., $6,000 more than its appraised value. Today, similar houses in the neighborhood are being priced at $300,000 or more. “We bought at the right time,” said Bernadette, a retired Wells Fargo & Co. information technology worker. “In retrospect, we were lucky as prices have gone up so much more.” Home-price appreciation is a welcome...
City Property Values Point to Wealth Divide Within U.S. Cities
Washington — It’s still possible in Boston for a mail carrier, an accountant and a Harvard-trained psychiatrist — basically, the crowd from Cheers — to live as neighbors. That finding by the real estate brokerage Redfin makes the capital of Massachusetts a rarity at a time when neighborhoods in most U.S. cities are increasingly isolated from each other by income and home values. Redfin analyzed home sales over the past 24 months in 20...
U.S. Raises Farm-Income Forecast After Crop Sales Increase
Washington — The U.S. Department of Agriculture raised its forecast for U.S. farmers’ profits this year, with crop sales rising above an earlier estimate and help coming from other sources of income such machine rentals. Income will be $100.3 billion, the USDA said last week in a report, down 21 percent from 2014 and a second straight annual decline. Still, that’s 12 percent more than forecast in February. Crop receipts are increasing...
