Todays Ramble From Team Rambala August 14 2017

Dated: 08/14/2017

Views: 36

Homeowner’s Net Worth Is Still Greater Than a Renter’s

Homeowner’s Net Worth Is Still Greater Than a Renter’s | MyKCM


Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400). 

The latest survey data, covering 2014-2016 will be released later this year. In the meantime, Lawrence Yun, the National Association of Realtors’ Chief Economist estimatesthat the gap has widened even further, to 45 times greater ($225,000 vs. $5,000)! 

Put Your Housing Cost to Work for You

As we’ve said before, simply put, homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth. Every time you pay your rent, you are contributing to your landlord’s net worth.

The latest National Housing Pulse Survey from NAR reveals that 84% of consumers believe that purchasing a home is a good financial decision. William E. Brown comments:

“Despite the growing concern over affordable housing, this survey makes it clear that a strong majority still believe in homeownership and aspire to own a home of their own. Building equity, wanting a stable and safe environment, and having the freedom to choose their neighborhood remain the top reasons to own a home. 

Bottom Line

If you are interested in finding out if you could put your housing cost to work for you by purchasing a home, let’s get together and evaluate your ability to buy today! https://goo.gl/YYJgDi


•••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••


Reviews on Zillow 3326712"She and her husband were very helpful. They worked with us over two summers to find the right house at a great price. She was always available by ... more "5.0/5.0by tsdye3059183"This husband and wife team are fantastic Realtors! Both Paul and Erin were attentive, responsive and professionally efficient. Any questions or ... more "5.0/5.0by user91055513047141"Erin and her husband Paul form a formidable team that has all the ingredients required to provide their clients with a first class service. They go ... more "5.0/5.0by mervynbro

Latest Blog Posts

Home Sellers Guide Winter 2018

In this edition of the Home Sellers Guide seasonal series for Winter 2018 we look at 5 reasons to sell your home now, how to get the most money from the sale of your home, the importance of using

Read More

Home Buyers Guide Winter 2018

Thinking of buying a home in Vero Beach?  This special edition of the <strong>Home Buyers Guide Winter of 2018</strong>, presents the 4 reasons to buy a home in Vero Beach this

Read More

Todays Ramble From Team Rambala January 25 2018

If You’re Considering Selling, ACT NOW!!Definitely an aggressive headline. However, as the final data on the 2017 housing market rolls in, we can definitely say one thing: If you are considering

Read More

Todays Ramble From Team Rambala Jan 10 2018

The Impact of Tight Inventory on the Housing MarketThe housing crisis is finally in the rearview mirror as the real estate market moves down the road to a complete recovery. Home values are up, home

Read More