$(6$ points, $2*3)$ Four years ago, when you were $24,$ you graduated from college and landed a good paying job. At that time you purchased your $$starter home$$ for $$200$K$.$ Since then, the housing market in the city where your home is located experienced unusually high rate of price appreciation and a local real estate agent informed you that if you were to put your home on the market today, you will be able to sell it for about $$350$K$.$

Did the recent abnormal housing price appreciation benefited you? Explain in $3-4$ sentences. STOP! Before you answer this question, please ask yourself... would the situation described above improved your lifestyle? Did it make it easier or more difficult for you to for you to upgrade your $$starter home$$ into a better home given that the overall housing market probably appreciated in a similar rate over these four years?

What kind of individuals benefited the most from the recent price appreciation described in this question? Explain in $2-3$ sentences.

What kind of individuals suffered the most from the recent price appreciation described in this question? Explain in $2-3$ sentences.