Net Worth Of Homeowners 44X Greater Than Renters

Dated: 10/12/2017

Views: 16

Image title

 

Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey data, covering 2013-2016 was released two weeks ago.

The study revealed that the 2016 median net worth of homeowners was $231,400 -a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).

These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter.

Simply put, homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth by increasing the equity in your home.

That is why, for the fourth year in a row, Gallup reported that Americans picked real estate as the best long-term investment. This year’s results showed that 34% of Americans chose real estate, followed by stocks at 26% and then gold, savings accounts/CDs, or bonds.

Colorado Springs CO Real EstateBuyers and Listings for Sale and Real Estate Services. ReAnn Kuhn Looseis your local NATIVE Real Estate Expert for Colorado Springs, Colorado, especially Old Colorado City, Manitou Springs, Fountain, Security, Widefield and surrounding areas. You now have free access to our Colorado Springs, CO Ultimate Real Estate Search Engine!   ReAnn Kuhn Loose719-330-5533

Blog author image

Sheryll White

As a Full Time real estate agent for the past 23 years, Sheryll has helped hundreds of home owners in Colorado buy and sell their homes. Sheryll's easy going, no pressure style and her in depth knowl....

Want to Advertise on this Site?

Latest Blog Posts

JUST LISTED 4306 South Xenophon Way Morrison

Don't miss this cute updated home.                     2 bedrooms                    1 1/2

Read More

Get A Glimpse Inside What Will Be The Largest Hotel In Colorado

AURORA, Colo. – A tour inside the Gaylord Rockies resort is giving the public a glimpse into the massive project that is currently the largest hotel under construction;

Read More

Stunning New Property Just Listed

Don't miss out on this amazing property in Parker hurry hurry it wont be on the market long.For more information about this great property and more of our other great properties Text "sheryll"

Read More

A Weary Traveler

Well, Good Morning all from a weary traveler....and just wanted to share my latest real estate adventure and how it obviously should not be done.We own 1/2 of a casa in Loreto Baja Sur, and with our

Read More