If you need help putting into perspective the billions that get traded in real estate, the latest research done by our friends at RENTCafé comes in handy.
The infographic they created shows that the value of all U.S. homes amounts to a staggering $26,500 billion, which is twice the value of all homes in Canada and the U.K. combined; the total outstanding mortgage loan in the U.S., however, is about 4 times bigger.
When it comes to home sales, U.S. topped the list in 2014, with $1,200 billion in closed transactions, which is more than double the amount registered in both Canada and the U.K, and $200 billion more than what China saw in home sales last year.
Also, in case you’ve ever wondered if it’s more profitable to be a real estate agent in the U.S. or abroad, here’s what the numbers say: US residential real estate agents earned about 8 times more in commission in 2014 than their Canadian or British counterparts, totaling aproximately $65 billion in total. They also spent $9 billion on advertising, which is a bit over Los Angeles’ total budget in 2014.
Talking about L.A., did you know that the top 400 richest people in the U.S. could buy all the homes in the L.A. metro area if they spent their total 2014 net worth?
For more comparisons based on insightful real estate data, check out the cool infographic below. Please don’t forget that all amounts refer to $ billion.