Every three years, the Federal Reserve conducts theirSurvey of Consumer Financesin which they collect data across all economic and social groups. The latest survey data, covering 2013-2016 was released two weeks ago.
The study revealed that the 2016 median net worth of homeowners was $231,400 –a 15% increasesince 2013. At the same time, the median net worth of rentersdecreased by 5%($5,200 today compared to $5,500 in 2013).
These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter.
Owning a home is a great way to build family wealth
As we’ve said before, simply put, homeownership is a form of‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth by increasing the equity in your home.
That is why, for the fourth year in a row,Gallupreportedthat Americans picked real estate as the best long-term investment. This year’s results showed that 34% of Americans chose real estate, followed by stocks at 26% and then gold, savings accounts/CDs, or bonds.
Greater equity in your home gives you options
If you want to find out how you can use the increased equity in your home to move to a home that better fits your current lifestyle, let’s get together to discuss the process.
Author:Deydania Cespedes Phone: 786-597-2408 Dated: October 16th 2017 Views: 23 About Deydania: ...
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Real Estate Empire Group is a fast growing boutique Real Estate firm that was established in 2001. It began to revolutionize property sales as well as marketing through brokers, agents, and an administrative team. Our highly trained administration team ensures the best service possible as well as helps manage transactions efficiently across a spectrum of properties, prices and sales including international transactions. Our office provides agents an opportunity to grow with market- leading training and unique tools devoted for growth and expansion. We are based in Doral, FL placing us at the center of Miami’s fast-growing International market. Our wide- ranging model combines various technologies; efficient support system and leadership initiatives that help agents govern sales in a superior form while gaining a threshold as a Real Estate agent. We at Real Estate Empire Group provide to ensure excellence in every aspect of Real Estate.
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"Client Feedback on Mauricio Restrepo
How fast did your agent respond to your questions: 5 out of 5
How well did your agent use technology: 5 out of 5
How helpful was the support staff: 5 out of 5
How good was the auxiliary services we recommended: 5 out of 5
How did the closing go: 5 out of 5
How close did we meet your expectations: 5 out of 5
How likely are you to recommend us: 5 out of 5
Services used: Buy
How did you find us: Internet Search
Your most memorable moment
The way that he helped me even after the sale......excelent.
The moment you'd rather forget?
do not have one
I will recomend him as a Realtor
Not at this time, but will let you know if I do in the future."