A study on housing wealth and overpayment found that on a $400,000 home purchase, buyers with equity from the sale of their previous home tended to overpay on average by about $8,000, or 2%. For every dollar of equity gain that a seller receives, he or she overpays by 7.9 cents on the next home purchase, says study co-author Gregor Schubert, an economist at the UCLA Anderson School of Management. Thus, higher-equity sales tend to mean bigger overpayments on the new home.
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