Oct 22, 2023 - Economy
New homeowners won’t see a profit for over a decade
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Get comfy, homeowners: It can take up to 13.5 years to break even on your purchase, per Zillow data exclusively shared with Axios.
Why it matters: You'll have to stay in your house for more than a decade before you can sell and make a profit.
Context: Historically, experts have said you need to stay in your home at least five years to break even. But with mortgage rates inching toward 8%, new homeowners will need to stay put longer to avoid going underwater.
Go deeper: The problem with America's high homeownership rate
