Did you buy a house before 2022? If the answer is 'no,' you will likely be on the wrong end of financial inequality over the next decade — here's why

But it was the ultra-low interest rates during the pandemic years that encouraged a boom in buying, causing house prices to spike to historic levels in many areas — and pushing homeownership out of sight for many. They’re paying that much less every month for housing than the person who bought during the pandemic, or since interest rates began rising in mid-2022. Eight of the top 10 equity-rich states are in the West, while 12 of the 15 states with the lowest percentages of equity-rich homes were in the Midwest and South.

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