benefits of homeowwnership: Family Wealth Grows as Home Equity Builds
- 10/21/15 03:25 AM
With residential real estate values rising quite substantially in most parts of the country over the last few years, many homeowners are seeing a major increase in their family’s wealth as equity continues to build in their house.
A recent study by the Joint Center of Housing Studies at Harvard University revealed that home equity grew nicely last year and has grown dramatically over the last five years… Buyers looking today may not see the same build-up in equity but could still do quite well. Let’s assume you went into contract in the next six weeks and closed on a $250,000 home in January. If we take the house … (0 comments)
The updated numbers actually show that the range is from an average of 16% in Honolulu (HI), all the way to 55% in Sarasota (FL), and 35% Nationwide! The other interesting findings in the report include: Interest rates have remained low and even though home prices have appreciated around the country, they haven’t greatly outpaced rental appreciation. “In the past year, these two trends have made homeownership even more affordable compared with renting.” Some … (1 comments)
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Kristine Dugan, ABR, CRS, ePro
Team Beesley | Keller Williams Coastal Estates
With residential real estate values rising quite substantially in most parts of the country over the last few years, many homeowners are seeing a major increase in their family’s wealth as equity continues to build in their house.
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