Homeownership Builds Wealth & Offers Stability | MyKCM

The most recent Housing Pulse Survey released by the National Association of Realtors revealed that the two major reasons Americans prefer owning their own home instead of renting are:

  1. They want the opportunity to build equity.
  2. They want a stable and safe environment.

Building Equity

John Taylor, CEO of the National Community Reinvestment Coalitionexplains that those who lack the opportunity to become homeowners have a weakened ability to reinvest their wealth:

“We traditionally have been huge supporters of home-ownership. We see it as a way to provide stability for households but also as an asset-building strategy. If you continue to be a renter, locked out of the home-ownership arena, increasingly those things are further and further out of reach. They’re joined at the hip. They perpetuate each other.” 

Family Stability

Does owning your home really create a more stable environment for your family?

survey of property managers conducted by rent.com disclosed two reasons tenants should feel less stable with their housing situation:

  • 68% of property managers predict that rental rates will continue to rise in the next year by an average of 8%.
  • 53% of property managers said that they were more likely to bring in a new tenant at a higher rate than negotiate and renew a lease with a current tenant they already know.

We can see from these survey results that renting will provide anything but a stable environment in the near future. 

Bottom Line

Homeowners enjoy a more stable environment and at the same time are given the opportunity to build their family’s net worth.

REAL ESTATE AT THE LAKE WITH VALERIE LITTRELL

BROKER/OWNER– 573-216-4991 – ABR, GRI

 SELLINGTHELAKE.COM