SRG I Sustainable Realty Group

(619) 363-3938
FacebookTwitterGoogle+YelpLinkedin
Sustainable Realty GroupSustainable Realty Group
Sustainable Realty Group
Real Estate Brokerage and Investments
  • About
    • About SRG
    • Meet the Broker
  • Properties
    • Coming Soon
    • Featured Properties
    • Homes for Sale
    • Homes Map Search
    • Advanced Search
  • Consult
    • Buyer Consultation Form
    • Seller Consultation Form
    • Comparative Market Analysis Form
  • Communities
  • Renovate
  • Resources
    • Blog
  • Contact Us
Menu back  
 

Homeowner’s Net Worth Is Still Greater Than a Renter’s

August 14, 2017Leave a commentUncategorizedBy Erin O'Connor
Homeowner separate Big goldfish and little goldfish

Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400).

The latest survey data, covering 2014-2016 will be released later this year. In the meantime, Lawrence Yun, the National Association of Realtors’ Chief Economist estimates that the gap has widened even further, to 45 times greater ($225,000 vs. $5,000)!

Put Your Housing Cost to Work for You

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. Every time you pay your rent, you are contributing to your landlord’s net worth.

The latest National Housing Pulse Survey from NAR reveals that 84% of consumers believe that purchasing a home is a good financial decision. William E. Brown comments:

“Despite the growing concern over affordable housing, this survey makes it clear that a strong majority still believe in homeownership and aspire to own a home of their own. Building equity, wanting a stable and safe environment, and having the freedom to choose their neighborhood remain the top reasons to own a home.”

Bottom Line

If you are interested in finding out if you could put your housing cost to work for you by purchasing a home, let’s get together and evaluate your ability to buy today!

Erin O'ConnorThis blog is brought to you by Sustainable Realty Group. SRG is a boutique brokerage and investment firm for residential real estate throughout San Diego County. SRG helps homeowners buy, sell and invest in real estate.  For questions contact – Erin O’Connor, Broker at (619)847-3115 or email eoconnor@sustainablerealtygroup.com. With over 15 years experience in real estate, SRG is the right team for all your real estate needs

Feature
About the author

Erin O'Connor

Erin O'Connor has over 15 years experience in real estate, lending and investing. He is a currently is the managing broker Sustainable Realty Group (SRG). SRG is a boutique brokerage and investment firm for residential real estate throughout San Diego County.

Related posts
Top things to do when selling your home.
January 21, 2021
Desert Oasis
Sellers: Your Home is an Oasis in an Inventory Desert
August 16, 2017
Housing Inventory Hits 30 year Low
August 9, 2017
20 Tips for Preparing Your House for Sale
August 5, 2017
Millennials sitting on a couch
Millennials Homeownership Rates on the Rise
August 5, 2017
sustainable Realty Group logo
Home Buying Myths Slayed
July 14, 2017
Leave Comment

Cancel reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

clear formSubmit

Copyright 2019 Sustainable Realty Group CalBRE# 01857244
11696 Sorrento Valley Rd – Ste 201
San Diego, CA 92121
  • About
    • About SRG
    • Meet the Broker
  • Properties
    • Coming Soon
    • Featured Properties
    • Homes for Sale
    • Homes Map Search
    • Advanced Search
  • Consult
    • Buyer Consultation Form
    • Seller Consultation Form
    • Comparative Market Analysis Form
  • Communities
  • Renovate & Sell
  • Resources
    • Blog
  • Contact Us
  • Privacy Policy
footer menu