Final answer:
The number of homes listed for sale is constantly changing, and with newspapers listing them only once per week, these numbers are not fixed. Housing market dynamics, especially around the time of the 2007 financial crisis, have had significant impacts on home ownership and equity, with the market seeing major shifts in response to economic conditions.
Step-by-step explanation:
The exact number of homes listed for sale at any given moment varies continuously as properties are listed and sold. This dynamic nature of the housing market, coupled with the fact that many newspapers list homes for sale only once a week, suggests that the properties come up for sale randomly. Particularly in the context of the 2007 financial crisis, it is essential to understand how fluctuations in the market can affect home ownership.
During the period from 1990 to 2006, the U.S. housing market experienced significant growth. Ownership rates increased from 64% to over 69%, and the value of mortgage loans also tripled, making housing more accessible and a seemingly safe financial investment. However, with the housing bubble burst that prefaced the 2007 financial crisis, the market saw a substantial shift with declines in home values and equity.
It's worth noting that in 2006, housing equity in the United States peaked at an impressive $13 trillion. The number of homes sold or listed can be significantly influenced by these wider economic conditions.