Homeowner Wealth Is 40 Times Higher Than Renters
According to an article published on April 18, 2023, by the National Association of Realtors (NAR), Homeowner Wealth Is 40 Times Higher Than Renters.
“This analysis shows how homeownership is a catalyst for building wealth for people from all walks of life,” says NAR Chief Economist Lawrence Yun. “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.”
Now, if that isn’t enough to make a first-time buyer make a move, then maybe this will:
FACT: Most owners have earned more than $100,000 in equity over the last decade, according to new NAR data.