Sell My House in MD | Homeowners Aged 65+ Have 48x More Net Worth Than Renters

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Real Estate Broker/Owner with Maxus Realty Group - Broker 301-246-0001 Broker - Realtor - CEO

Sell My House in MD | Homeowners Aged 65+ Have 48x More Net Worth Than Renters

 

Most real estate brokers and agents don't really have all the tools needed to provide 100% selling services to sellers that need to sell their houses  quick, for cash and at a fair price.   

This is why we have integrated fully with all the data on the MLS and became a real estate source to thousands of investors in the MD, DC & VA region.   

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Today, I would like to talk to you about Homeowners Aged 65+ Have 48x More Net Worth Than Renters

 

Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. Their latest survey data covers responses from 2013-2016.

The study revealed that the median net worth of a homeowner was $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).

These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter.

There are many who see that statistic and point toward how broad the range of respondents are for the Federal Reserve survey. Their study includes all economic and social groups and also includes all age groups. The argument is that older respondents have a higher likelihood of being homeowners, while the homeownership rate among younger survey takers is much lower.

Recently, the Joint Center for Housing Studies at Harvard University focused on homeowners and renters over the age of 65. Their study revealed that the difference in net worth between homeowners and renters at this age group was actually 47.5 times greater!

 

 

READ MORE: https://www.reallynicehomes.com/blog/sell-my-house-md-homeowners-aged-65-have-48x-more-net-worth-renters/

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