” If you’re wondering if homeownership is a good investment, the study clearly answers that question, and the answer is yes.”
A recent Survey of Consumer Finances study released by the Federal Reserve reveals the net worth of homeowners is forty times greater than that of renters. If you’re wondering if homeownership is a good investment, the study clearly answers that question, and the answer is yes.
Do Americans believe a home is a better investment than stocks?
In a post on the Liberty Street Economics blog, the Federal Reserve Bank of New York notes that 93.3% of Americans believe buying a home is definitely or probably a better investment than buying stocks.
The data show how strongly Americans believe in homeownership as an investment. That belief is warranted. The Liberty Street Economics blog put it best by saying:
“Housing represents the largest asset owned by most households and is a major means of wealth accumulation, particularly for the middle class.”
To view original article, visit Keeping Current Matters.
Experts have forecasted that total home sales (existing homes and new construction) will continue their momentum into next year.
Despite the speed and opportunity for sellers, there are still steps you can take to prep your house so you get the greatest possible return.
To take advantage of today’s real estate market, experts are encouraging homeowners to act now before interest rates climb.
The national average for the time it would take to save for a 10% down payment is right around two and a half years (2.53).
If your house is no longer the best fit for your evolving needs, it may be time to put your equity to work for you and downsize to the home you really want.
Does homeownership actually give you a better chance to build wealth?