2016: Homeowner’s net worth is 36 times greater than a renter’s

2016: Homeowner’s net worth is 36 times greater than that of a renter’s.

If you're trying to still justify purchasing a home, you might want to consider these numbers.

According to the Survey of Consumer Finances report conducted by the Federal Reserve, homeowner’s net worth was 36 times greater than that of a renter ($194,500 vs. $5,400) based on data collected between 2010-2013.

According to the National Association of Realtors’ (NAR) Chief Economist Lawrence Yun, we can further expect that gap to increase in 2016 to 45X.

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Think about this.

When you make a mortgage payment, you are actually contributing to your net worth. It's a forced savings plan.

Why not contact Skyrise Real Estate Group today and discuss your home ownership options. Your net worth can benefit from a simple call.