Some Highlights: Historically, the choice between renting and buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (27.7%) vs. the percentage needed to buy a median-priced home (17.5%), [...] Read More
0
Much has been written about how residential real estate values have increased since the housing market started its recovery in 2012. However, little has been shared about what has taken place with residential rental prices. Let’s shed a little light [...] Read More
0
Some Highlights: The “cost of waiting to buy” is defined as the additional funds necessary to buy a home if prices and interest rates were to increase over a period of time. Freddie Mac forecasts interest rates will rise to 3.8% [...] Read More
0
When people talk about homeownership and the American Dream, much of the conversation revolves around the financial benefits of owning a home. However, two recent studies show that the non-financial benefits might be even more valuable. In a recent survey, [...] Read More
0
One of the benefits of homeownership is that it is a “forced savings plan.” Here’s how it works: You make a mortgage payment each month. Part of that payment is applied to the principal balance of your mortgage. Each month [...] Read More
0
Every three years, the Federal Reserve conducts its Survey of Consumer Finances. Data is collected across all economic and social groups. The latest survey data covers 2013-2016. The study revealed that the median net worth of a homeowner is $231,400 – a [...] Read More
0
Some Highlights: Owning your own home vs. renting may lead to some great options, such as locking in your monthly payments and having the freedom to customize your living space. Whether you rent or own, you have to cover someone’s [...] Read More
0
On his personal website, self-made millionaire David Bach makes a striking statement: “Not prioritizing homeownership is the single biggest mistake millennials are making.” He further stated, “Buying a home is an escalator to wealth.” Bach explains: “Young adults in particular aren’t hopping [...] Read More
1
If you’re currently renting and have dreams of owning your own home, it may be a good time to think about your next move. With rent costs rising annually and many helpful down payment assistance programs available, homeownership may be [...] Read More
0
Owning a home has great financial benefits. In a recent research paper, Homeownership and the American Dream, Laurie S. Goodman and Christopher Mayer of the Urban Land Institute explained: “Homeownership appears to help borrowers accumulate housing and nonhousing wealth in [...] Read More
0
