Homeownership Builds Wealth and Offers Stability

The most recent Housing Pulse Survey released by the National Association of Realtors revealed that the two major reasons Americans prefer owning their own home instead of renting are:

  1. They want the opportunity to build equity.
  2. They want a stable and safe environment.

BUILDING EQUITY

In a recent article, John Taylor, CEO of the National Community Reinvestment Coalition, explained that those who lack the opportunity to become homeowners have a weakened ability to reinvest their wealth:

“We traditionally have been huge supporters of homeownership. We see it as a way to provide stability for households but also as an asset-building strategy. If you continue to be a renter, locked out of the homeownership arena, increasingly those things are further and further out of reach. They’re joined at the hip. They perpetuate each other.”

FAMILY STABILITY

Does owning your home really create a more stable environment for your family?

survey of property managers conducted by rent.com last month disclosed two reasons tenants should feel less stable with their housing situation:

  • 68% of property managers predict that rental rates will continue to rise in the next year by an average of 8%.
  • 53% of property managers said that they were more likely to bring in a new tenant at a higher rate than negotiate and renew a lease with a current tenant they already know.

We can see from these survey results that renting will provide anything but a stable environment in the near future.

BOTTOM LINE

Homeowners enjoy a more stable environment and at the same time are  given the opportunity to build their family’s net worth.


d5933541 7528 49d8 8cef c0c689edc349 ea233388 e0f0 49fa b6cc b8c6d803c53a 204792ad b565 4c52 b9f2 a918116797bc c2b41846 1be5 4aa8 9a04 ef014e27b0b8 28a88dd8 0330 4577 be16 61ee833a8e22 0e1403c1 736d 4231 ad00 d40ab5e133aa e61f0b20 7ee9 44cb b1cd fba9869a18ab 5fa2e984 ead3 43d7 85c6 3c26b66f6aa9 ef2c097a 41ea 4b91 ad0b 6d0ec2c1e6d9 5aca8923 9fa4 4cab 9904 484897a6436e 02ac2140 95bb 48a2 949d 06a42b9bd822 1938aedb 4b0f 4a70 a121 a82e0f401b7e 8ebdd620 2845 4f38 90c5 e23264e780cd 616ece7e 2aa2 4ad4 a22b 639c471fa521 d8a246c4 8818 48e2 8e9f 2d4b2a011582 84dda814 38da 4a49 8e4e 73b7301169b8 d138cf7d fd25 4667 8794 1b95d3495ad3 67b7e53c 30e1 42b8 a98b 12c66ff7610c d707d459 50aa 438f 82a3 4b6d82c982e5 c81b89ef 669f 49d1 a52c eade2ecfc8e0 2bd8461f eee1 47a8 ae81 499d90ef2835 73c95ad8 935a 4236 9782 4ebdd1caaf16 1cb0d664 74cc 4b82 9642 663db476d57e