Every three years, the Federal Reserve conducts their 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 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).
These numbers reveal that the net worth of a homeowner is over 44
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The housing market has been hot for a while now. Homes have been flying off the shelves as fast as they have been listed. Buyers have been competing in bidding wars just to find a home to buy, let alone find their dream home.
This ‘seller’s market’ has driven home prices to new heights. Home price appreciation averaged over 6% across the country.
However, home price growth has recently started to cool down. The latest report from CoreLogic shows that
Many homeowners believe that rising interest rates and home prices have scared away buyers and therefore have not listed their houses for sale. However, the truth is that buyers who were unable to find a home last year are out in force, and there are even more coming!
NerdWallet’s 2018 Home Buyer Report revealed that:
“Approximately one-third (32%) of Americans plan to purchase a home in the next five years. Millennials are most likely to have such a purchase in
In a CNBC article, self-made millionaire David Bach explained that: “The biggest mistake millennials are making is not buying their first home.” He goes on to say that, “If you want to build real financial security, real wealth for your lifetime, then you need to buy a home.”
Bach went on to explain:
“Homeowners are worth 40 times more than renters. Now, that first home doesn’t need to be a dream home, it can be a very small home.
Shane Willis: All right, so I wanted to shoot this quick video because I have people wanting me to analyze properties all the time. They’ve seen some of my videos talking about cash flow is king, and you should not invest in just real estate for appreciation only, it’s a bonus. How do you analyze cash flow? And how do you compare a real estate deal to a let’s say a CD down at the bank because you see …
Shane Willis: All right. So I wanted to shoot a quick video, because I get asked questions all the time. I’ve given a couple of speeches and I’ve said, “Have you considered real estate for a college fund?” Have you considered doing that, and I get a lot of questions on how does that work? Exactly how does that work? It’s one of the podcasts I recorded. Gosh, I recorded that probably a year and a half ago and it …
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