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Based on a December 2017 report from real estate website Zillow, the total value of all U.S. houses in 2017 was $31.eight trillion, greater than 1.5 instances the nation’s Gross Home Product (GDP) on the time. Dwelling possession, also referred to as owner-occupancy , is the most common kind of real estate funding in the United States. According to the Nationwide Multifamily Housing Council, roughly two-thirds of residents personal their home. Often, they’ve financed the purchase by taking out a selected sort of mortgage often called a mortgage, by which the property acts as collateral for the debt.

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