Recently there has been a number of articles questioning the value of home ownership, and whether the pursuit of the American Dream of owning a home may be fading.
Consider the following:
– A typical homeowners net worth is 46 times that of a renter’s
– 43 percent of the average homeowners wealth is derived from the equity of their home
– Over the past 41 years. home values have risen an average of 5.5 percent annually
– Giving the leverage in purchasing a home, the average return on a 5 percent down payment over one year is usually 3 to 5 times greater than stock market returns
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Courtesy – NAR – National Association of Realtors
