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Answers (8)
- Pasadenan
- Contributions:21453
I'm assuming that means ownership units, including SFR, condos, and townhomes, but not including any apartments.
I assume that I came up with a different number based on the weighting Zillow uses for the Z-index? Apparently the index is not a straight average of all ownership housing unit properties, but is weighted more heavily for the price ranges for which there are more units? So, what is the weighting distribution, and how is it determined?
Do you also have the standard deviation and the lower and upper quartiles? Although the Census data gives lower and upper quartiles, they don't track values over a million.
I assume that I came up with a different number based on the weighting Zillow uses for the Z-index? Apparently the index is not a straight average of all ownership housing unit properties, but is weighted more heavily for the price ranges for which there are more units? So, what is the weighting distribution, and how is it determined?
Do you also have the standard deviation and the lower and upper quartiles? Although the Census data gives lower and upper quartiles, they don't track values over a million.
- Alison Paoli, "AlisonPaoli"
- Contributions:23
Alison from Zillow here. To answer your question Zillow calculated the combined value of all homes across the US as of December 31, 2008. Our data shows that the values amount to about $25.1 trillion.
Hope that helps!
Hope that helps!
- sunnyview
- Contributions:25127
Agreed.
- Pasadenan
- Contributions:21453
So people create new user names just to post, and then never show back up again? What is the point of asking a question if no one really cares a bit about the answer?
- Pasadenan
- Contributions:21453
Zillow indicates the U.S. Z-index peaked mid 2006 at $238k; thus at the peak of the housing bubble, the value of U.S. ownership housing units was $19.04 trillion. Thus $2.88 trillion has dissapeared so far, and the slope is still quite negative, about $2.08 tillion drop per year, or about $178 billion drop per month.
- Pasadenan
- Contributions:21453
So how many trillions of dollars is the government planning on spending to "rescue" the mortage industry "theft"?
It looks like we really know who owns most of the U.S. housing stock. It is those "T-Bill" holders, like the Chinese Government.
It looks like we really know who owns most of the U.S. housing stock. It is those "T-Bill" holders, like the Chinese Government.
- Pasadenan
- Contributions:21453
Zillow indicates approximately 80 million ownership units in the U.S. They also indicate a U.S. "Z-index" of $202k (which was calculated excluding many areas where public record data is not available; but is close enough for general estimating purposes).
Thus, the total value of all U.S. ownership units is approximately $16.16 trillion.
This completely excludes all "rental" type units.
The U.S. Census indicates the ownership unit number is smaller than the 80 million Zillow indicates. This may be partially due to single family homes and condos being rented out. It also is partially due to the excessive construction that has occured since the last census. And some of those 80 million are duplicate entries.
Thus, the total value of all U.S. ownership units is approximately $16.16 trillion.
This completely excludes all "rental" type units.
The U.S. Census indicates the ownership unit number is smaller than the 80 million Zillow indicates. This may be partially due to single family homes and condos being rented out. It also is partially due to the excessive construction that has occured since the last census. And some of those 80 million are duplicate entries.
- sunnyview
- Contributions:25127
That would be one big number. That's for sure. I haven't seen it on the site myself.
Does Zillow Have the gross approximate total value of all homes in the USA?
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