Each year, the Federal Reserve surveys all economic and social groups of America and looks at the average net worth of Americans.
According to this survey, homeowners have an average net worth of $231,000. This is an increase of 15% since 2013. It also indicates that homeowners have an average net worth that is 44x higher than the average net worth of renters, who have seen a 5% decrease in average net worth (from $5,500 to $5,200) over that same period.
Homeownership is essentially a form of forced savings, and, according to a Gallup poll, over 35% of Americans say real estate is the best long-term investment.
Best of all, interest rates are currently at historic lows, making now an incredible time to buy.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.