It’s been endlessly covered in the news at this point that America’s housing market is on fire, even as commercial office and other more public real estate asset classes continue to tank in dozens of cities across the country.

What’s not been widely reported is the fact that millions of Americans aren’t aware that they may be living in one of the country’s hottest housing markets and probably don’t even know it.

In the short term, that could have outsized implications demographically and politically as the economy settles into the backside of the pandemic. More structurally, it also could influence the decision-making of the homeowners who now have vastly more “found” equity in their houses than they ever thought possible as they decide whether to sell high or stay long before the current housing boom cools (that should be an HGTV show in itself).

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