Household always sell their home before buying a new one, so there is no need to add their home equity to their liquid wealth, as their home equity is by definition always zero. Even if later on, with some modification, home equity wouldn't be zero, there is still no mechanism here for households to sell their home within this function or within the buying process, so this doesn't make any sense.
Household always sell their home before buying a new one, so there is no need to add their home equity to their liquid wealth, as their home equity is by definition always zero. Even if later on, with some modification, home equity wouldn't be zero, there is still no mechanism here for households to sell their home within this function or within the buying process, so this doesn't make any sense.