October 17, 2019 rummy

Recent studies show that home equity is the top contributor to your net worth closely followed by retirement accounts, stocks and mutual funds, assets at financial institutions and the rest. Economist Jonathan Eggleston and Survey Statistician Donald Hays, both of the U.S. Census Bureau, shared the biggest determinants of wealth, “The biggest determinants of household wealth [are] owning a home and having a retirement account.” (Shown in the graph below): This does not come as a surprise, as we often mention that homeownership can help you to increase your family’s wealth. This study reinforces that idea, “Net worth is an…

September 27, 2019 rummy

Yes, the majority of Americans still believe that homeownership is still one of the best investments out there. We talked about how owning a home improves your family’s net worth and all other benefits that come with it in our previous articles. These numbers below prove them right. According to Wikipedia, “Labor Day honors the American labor movement and the contributions that workers have made to the development, growth, endurance, strength, security, prosperity, productivity, laws, sustainability, persistence, structure, and well-being of the country.” The hard work that happens every day across this country allows so many to achieve the American…

September 25, 2019 rummy

No matter if you’re selling or buying a house, moving is quite a big step that comes with many other things to consider. Difficult enough as it is, moving with children changes the priorities dramatically. Recently, the 2019 Moving with Kids Report from the National Association of Realtors®(NAR) studied “the different purchasing habits as well as seller preferences during the home buying and selling process.” This is what they found: When Purchasing a Home The major difference between the homebuyers who have children and those who do not is the importance of the neighborhood. In fact, 53% said the quality…

September 19, 2019 rummy

Unlike any other expenses and overheads, your monthly housing cost can be utilized to increase your family’s net worth. It’s the only investment option out there with a dual purpose; you can live in it and increase your wealth through it. Every three years, the Federal Reserve conducts its Survey of Consumer Finances. Data is collected across all economic and social groups. The latest survey data covers 2013-2016. The study revealed that the median net worth of a homeowner is $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5%…

September 4, 2019 rummy

It appears that the balance between housing supply and demand continues to elude us. We’re no stranger to its ever so active fluctuations and we know very well the benefits and repercussions it brings. Let’s take a closer look at the housing market’s current state and find out about the opportunities that come with it. The number of new housing permits issued prior to the great recession increased for 15 years until 2005 (from 1.12 million in 1990 to a pre-recession peak of 2.16 million in 2005). According to Apartment List, “From 1990 to 2005, the number of single-family permits…

August 28, 2019 rummy

Unlike any other expenses and overheads, your monthly housing cost can be utilized to increase your family’s net worth. It’s the only investment option out there with a dual purpose; you can live in it and increase your wealth through it. The study revealed that the median net worth of a homeowner is $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013). These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter….

August 6, 2019 rummy

Home is not just a place to live, it offers so much more to the owner and his family. Whatever reason you may have for thinking of buying a home, here are three more good ones to make that decision now. 1. Affordability Many people focus solely on price when talking about home affordability. Since home prices have appreciated throughout the past year, they assume homes are less affordable. However, affordability is determined by three components: Price Wages Mortgage Interest Rate Prices are up, but so are wages – and interest rates have recently dropped dramatically (see #2 below). As…

July 31, 2019 rummy

Are you fed up with the consistent rise in rent? Have you ever thought of buying a home instead of paying someone else’s mortgage? What’s holding back could simply be your hesitation as you may be pleasantly surprised by what’s needed to purchase a home. According to the 2018 Bank of America Homebuyer Insights Report, 74% of renters plan on buying within the next 5 years, and 38% are planning to buy within the next 2 years. When those same renters were asked why they disliked renting, 52% said rising rental costs were their top reason. The results of the…

July 30, 2019 rummy

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July 26, 2019 rummy

It’s not commonly known to everyone that a significant percentage of houses bought in the US are purchased by small investors. Is this a good thing or a bad thing? Well, the truth is, it’s both, it makes the market move which helps maintain a healthy balance of supply and demand. Many have speculated that the large institutional conglomerates such as Blackstone, American Homes 4 Rent, and Colony Starwood dominate investor purchases. However, a special report on investor home buying by CoreLogic, Don’t Call it a Comeback: Housing Investors Have Been Here for Years, shows this is not the case….