June 6, 2023
Real Estate Tips
With all the headlines circulating about home prices and rising mortgage rates, you may wonder if it still makes sense to invest in homeownership right now. A recent poll from Gallup shows the answer is yes. In fact, real estate was voted the best long-term investment for the 11th consecutive year, consistently beating other investment types like gold, stocks, and bonds (see graph below):
If you’re thinking about purchasing a home, let this poll reassure you. Even with everything happening today, Americans recognize owning a home is a powerful financial decision.
Purchasing real estate has typically been a solid long-term strategy for building wealth in America. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), notes:
“. . . homeownership is a catalyst for building wealth for people from all walks of life. A monthly mortgage payment is often considered a forced savings account that helps homeowners build a net worth about 40 times higher than that of a renter.”
That’s because owning a home grows your net worth over time as your home appreciates in value and as you pay down your mortgage. And, since building that wealth takes time, it may make sense to start as soon as you can. If you wait to buy and keep renting, you’ll miss out on those monthly housing payments going toward your home equity.
Buying a home is a powerful decision. So, it’s no wonder so many people view real estate as the best long-term investment. If you’re ready to start on your own journey toward homeownership, connect with a local real estate advisor today.
(2023, June 6). Real Estate Is Still Considered the Best Long-Term Investment. Keeping Current Matters. https://www.keepingcurrentmatters.com/2023/06/06/real-estate-is-still-considered-the-best-long-term-investment-1/
Stay up to date on the latest real estate trends.
December 1, 2023
Real Estate Tips
November 30, 2023
Past Sales
November 29, 2023
Welcome to 14361 Lenray Lane! Captivating Custom Remodeled Three Bedroom Single Family Home Located in the Heart of Cambrian with Top Cambrian Schools!
Real Estate Tips
November 29, 2023
You’ve got questions and we can’t wait to answer them.