From the desk of Joe Kendall Broker Associate with Shore Line Realty.
Over the last 6 years, homeownership has lost some of its allure as a financial investment. As homeowners suffered through the housing bust, more and more began to question whether owning a home was truly a good way to build wealth. Now the last three years has shown strong growth and experts project southwest Florida to be one of the strongest real estate markets in the United States over the next 10 years!
Every three years the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups.
Some of the findings revealed in their report:
The average American family has a net worth of $81,200
Of that net worth, 61.4% ($49,856) of it is in home equity
A homeowner’s net worth is over 36 times greater than that of a renter
The average homeowner has a net worth of $194,500 while the average net worth of a renter is $5,400
There are many reasons why owning a home makes sense, the Fed study shows that owning is still a great way for families to build wealth in America!
Thinking about investing in Southwest Florida? I have been selling homes, condos, new construction, waterfront and vacant land Southwest Florida over the last 10 years. On the listing side, I have sold over 400 homes in my real estate career.
Put my years of experience to work for You. I promise you will be glad you did!