on Wednesday, April 9th, 2014 at 9:33am.
It’s safe to say homeownership has lost some of its enticement as a financial investment over the past six years. As homeowners fought through the housing bust, more and more began to question whether owning a home was truly a good way to build wealth. According to a study by the Federal Reserve formally answered this question. Call Craig Adelman today at 303.809.8979.
Some of the findings revealed in their report that:
The average American family has a net worth of $77,300
Of that net worth, 61.4% ($47,500) of it is in home equity
A homeowner’s net worth is over thirty times greater than that of a renter
The average homeowner has a net worth of $174,500 while the average net worth of a renter is $5,100
Needless to say, the Fed study found that homeownership is still a great way for a family to build wealth in America. Call Craig Adelman today at 303.809.8979.