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.
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.