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Homeowner Net Worth Is 45x Greater Than A Renter

Grown your real estate wealth by orlando property manager

Wouldn’t you like to grow your wealth in a relatively easy and passive way? Orlando property management company Morgan Property Solutions recommends purchasing real estate in central Florida.

 

Homeowner Net Worth Is 45x Greater Than a Renter | Orlando property manager

The Federal Reserve conducts a opens in a new windowSurvey of Consumer Finances every three years in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400).

In a Forbes opens in a new windowarticle, the National Association of Realtors’ (NAR) Chief Economist Lawrence Yun predicts that by the end of 2016, the net worth gap will widen even further to 45 times greater.

The results of the last two Federal Reserve studies and Yun’s prediction:

Homeowner Net Worth Is 45x Greater Than a Renter | Orlando property manager

Put Your Housing Cost to Work for You

As we’ve said opens in a new windowbefore, simply put, homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth. Every time you pay your rent, you are contributing to your landlord’s net worth.

The opens in a new windowlatest National Housing Pulse Survey from NAR reveals that 85% of consumers believe that purchasing a home is a good financial decision. Yun comments:

“Though there will always be discussion about whether to buy or rent, or whether the stock market offers a bigger return than real estate, the reality is that homeowners steadily build wealth. The simplest math shouldn’t be overlooked.”

Bottom Line

If you are interested in finding out if you could put your housing cost to work for you by purchasing a home, let’s get together and evaluate your ability to buy today!

opens in a new windowContact us for investing advice from opens in a new windoworlando property manager Morgan Property Solutions.

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