Homeownership is the Top Contributor to Your Net Worth

By
Real Estate Agent with RE/MAX RESULTS 40241196

Homeownership is the Top Contributor to Your Net Worth

Homeownership is the Top Contributor to Your Net Worth | MyKCM

Many people plan to build their net worth by buying CDs or stocks, or just having a savings account. Recently, however, Economist Jonathan Eggleston and Survey Statistician Donald Hays, both of the U.S. Census Bureau, shared the biggest determinants of wealth,

“The biggest determinants of household wealth [are] owning a home and having a retirement account.” (Shown in the graph below):

Homeownership is the Top Contributor to Your Net Worth | MyKCMThis does not come as a surprise, as we often mention that homeownership can help you to increase your family’s wealth. This study reinforces that idea,

 “Net worth is an important indicator of economic well-being and provides insights into a household’s economic health.”

Having equity in your home can help your family move in that direction, building toward substantial financial growth. According to the report noted above, people are not only creating net worth in the homes they live in, but many are also earning equity in rental property investments too. (See below):Homeownership is the Top Contributor to Your Net Worth | MyKCMJohn Paulson said it well,

If you don’t own a home, buy one. If you own one home, buy another one, and if you own two homes buy a third and lend your relatives the money to buy a home.”

Bottom Line

There are financial and non-financial benefits to owning a home. If you would like to increase your net worth, let’s get together so you can learn all the benefits of becoming a homeowner.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Buying
Tags:
home buying tips

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
4,107,206
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Bob, great point, and so true.   Especially in markets exploding in value! 

Oct 09, 2019 02:06 PM #1
Ambassador
2,059,279
Michelle Carr Crowe,Altas Just Call...408-252-8900!
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

Hi there, 

Thank you for a thoughtful blog post on this important topic.

Oct 09, 2019 11:58 PM #2
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
281,537

Bob Elliot

20+ Yrs Local Industry Experience
Ask me a question
*
*
*
*
Spam prevention

Additional Information