Dona DeZube of houselogic and the National Center for Real Estate Research have released some interesting facts about home ownership and how it could mean more money for you.
• 6 out of 10 Americans have more home equity than stock equity
• One-fifth of Americans’ total net worth is home equity
• Homeowners accumulate an average of $167,000 over the course of their lifetimes compared to $42,000 for renters
• American homeowners earning less than $20,000 a year have a median wealth that is 81 times greater than that of renters with a similar income
What do these facts tell us? Owning a home and paying a mortgage will earn you more money in the long run than renting or investing in stock equity.