A Great Way to Increase Your Family’s Net Worth

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Real Estate Agent with Keller Williams Greater Omaha 20041001
A Great Way to Increase Your Family’s Net Worth | MyKCM

Every three years, the Federal Reserve conducts its Survey of Consumer Finances. Data is collected across all economic and social groups. The latest survey data covers 2013-2016.

The study revealed that the median net worth of a homeowner is $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.

Owning a home is a great way to build family wealth.

As we’ve said before, simply put, homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth by increasing the equity in your home.

That is why Gallup reported Americans picked real estate as the best long-term investment for the sixth year in a row. According to this year’s results, 35% of Americans chose real estate. Stocks followed at 27%, then savings accounts and gold.

Bottom Line

If you want to find out how you can use your monthly housing cost to increase your family’s wealth, let’s get together to help you through the process.

 

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Rainmaker
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning. Real estate is the way to go for the vast majority without doubt. Enjoy your day 

Aug 20, 2019 06:09 AM #1
Rainer
520,377
Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

Great information! Thanks for sharing!

Homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth by increasing the equity in your home.  Americans picked real estate as the best long-term investment for the sixth year in a row. According to this year’s results, 35% of Americans chose real estate. Stocks followed at 27%, then savings accounts and gold.

Aug 20, 2019 06:18 AM #2
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Rainmaker
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The Trumm Team Omaha Homes for Sale, Real Estate

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