After the crash of the housing market homeownership kind of got a bad rap which makes sense because there were so many people who had negative equity. Things are better today. More people have equity and home values are rising. There are risks to homeownership and it isn’t for everyone but for many it is a good investment.
Home ownership is down nationwide from what it was at the peak in 2005 but looks to be as strong as it was in the 1990’s. In the long run owning a home is still a great way to accumulate wealth. People who have their home paid off when they retire spend less on housing and have more money for food and health care. I guess some even have money for fun and travel. 🙂
Here is a looks at net worth and home ownership from a presentation given by Lawrence Yun, Ph.D., NAR Chief Economist Ph.D., NAR Chief Economist, to the Residential Real Estate Forum at the 2014 REALTORS® Conference & Expo in New Orleans, LA on November 7, 2014.
