The Housing Bust Widened the Wealth Gap. Here's How. [Forbes]
Zillow Group, Inc. - Class C Capital Stock (Z)
Last zillow group, inc. - class c capital stock earnings: 8/6 04:06 pm
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Source: Forbes
Svenja Gudell Contributor Zillow Contributor Group i Opinions expressed by Forbes Contributors are their own. Real Estate Less-well-off homeowners that succumbed to foreclosure as the housing market went bust, destroying the value of their largest asset, have very likely missed out on the immense wealth-creation the subsequent housing recovery has enabled. Meanwhile, those typically wealthier homeowners able to hold on to their homes throughout the worst of the housing bust have likely seen their wealth only increase throughout the subsequent recovery. This difference in fortunes, both literal and figurative, between the most- and least-wealthy homeowners over the past ten-plus years illustrates the ways in which the Great Recession helped widen the already yawning gap between the nation’s rich and poor. The past decade or so has been a rollercoaster of boom, bust and recovery. During
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