Rent vs. Own
A good reason to jump in and buy a home instead of renting…
Lawrence Yun, chief economist for the National Association of Realtors, recently pointed out some interesting research from the Federal Reserve. Between 1995 and 2004, the average renter accumulated $4,000 in wealth. In contrast, the average homeowner accumulated $184,400.
Can you imagine what those numbers would be for Marin County and the San Francisco Bay Area?
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Monika
Impressive. All the more reason to buy rather than rent..why pay off
someone else’s mortgage when you could be paying off your own. -
GingerWilcox
So true Monika. It is a huge savings difference between owners and renters. I love working with first time home buyers because it is usually just the start of their opportunity to build wealth through real estate, and a softer market is the perfect opportunity for them to jump in.
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