Once every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. Their latest survey data, covering 2013-2016 was just released not too long ago.
This survey revealed that the median net worth of a homeowner was $231,400 – a 15% increase since 2013. During the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).
So the bottom line is that the numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter.
Quietly saving money and owning your American Dream:
The “American Dream” is to own your own home, it’s also a way of “Saving” due to the growth in equity of the home. That is considering your home is going up in value.
Many people don’t invest in anything more than their home. They don’t save money, they don’t have CD’s or entertain the idea of investing in the stock market.
want to know more, call Penny O’Brien with RE/MAX Excellece 702.321.9383