Over the last six years, home ownership has lost some of its allure as a
financial investment. As homeowners suffered through the housing bust,
more and more began to question whether owning a home was truly a good
way to build wealth. A study by the Federal Reserve formally answered this question.
Some of the findings in their report are listed below.
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
Author:Ann Marie Cancro Phone: 717-468-1301 Dated: August 15th 2014 Views: 373 About Ann Marie: LICENSED: Licensed Real Estate Professional since October 1990.
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