Key Takeaways Wealth creation occurs over time when you own a home. Your net worth grows significantly in the long-term as the value of your home appreciates. If you’re considering buying a home this year, consider the long-term benefits of homeownership. Over time, homeownership allows you to build equity and wealth. On average, nationwide home prices appreciated by 290.2% over the Continue Reading
If you're thinking about buying or selling a house, it's important to know that it doesn't just affect your life but also your community. The National Association of Realtors (NAR) releases a report every year to show how much economic activity is generated by home sales. The chart below illustrates that impact: As the graphic shows, when a house is sold, it can make a big difference in Continue Reading
You may see media coverage talking about a drop in homeowner equity. What’s important to understand is that there is a symbiotic connection between equity and home values. So, when home prices appreciate, you can expect equity to grow. And when home prices decline, equity does too. Equity can be defined as the amount of money the owner of an asset would be paid after selling it. Continue Reading
Media coverage about what’s happening with home prices can be confusing. Much of that is due to the type of data being used and what they choose to draw attention to. For home prices, two different methods are used to compare home prices over different time periods: year-over-year (Y-O-Y) and month-over-month (M-O-M). Here's an explanation of each. Year-over-Year (Y-O-Y): This Continue Reading
The real estate market is one of our lifetime's most foundationally strong housing markets – if not the most robust. When you look at the numbers today, the one thing that stands out is the strength of this housing market. Here are two fundamentals that prove this point. 1. The Current Mortgage Rate on Existing Mortgages First, let’s look at the current rate on existing mortgages. Continue Reading
Today’s mortgage rates are top-of-mind for many homebuyers right now. As a result, if you’re thinking about buying for the first time or selling your current house to move into a home that better fits your needs, you may be asking yourself these two questions: Why Are Mortgage Rates So High? When Will Rates Go Back Down? Here’s the context you need to help answer those Continue Reading
With all the headlines circulating about home prices and rising mortgage rates, you may wonder if it still makes sense to invest in homeownership right now. A recent poll from Gallup shows the answer is yes. Real estate was voted the best long-term investment for the 11th consecutive year, consistently beating other investment types like gold, stocks, and bonds (see graph below): Let this Continue Reading
Home Prices, due to low inventory and demand, held their own. During the fourth quarter of last year, many housing experts predicted home prices would crash this year. Here are a few of those forecasts: Jeremy Siegel, Russell E. Palmer Professor Emeritus of Finance at the Wharton School of Business: “I expect housing prices fall 10% to 15%, and the housing prices are accelerating on Continue Reading
Key Takeaway Owning a Home provides a sense of accomplishment, a sanctuary for family and friends to build memories, financial stability, and an investment vehicle to grow your assets and net worth. June is National Homeownership Month, and it’s a perfect time to consider all the benefits of owning your home. Homeownership makes you feel proud and accomplished, but it’s also a big step Continue Reading
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