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In the last decade, a surge in home prices has built considerable wealth for the middle class.
Total housing wealth grew by $8.2 trillion between 2010 and 2020, according to a March report from the National Association of Realtors. The coronavirus pandemic’s housing boom added even more value to homes.
But unless people plan to sell their houses — which can be a difficult feat in a hot housing market — there are only a few ways to tap into that increased equity.