Rama Mehra Realtor

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Net Worth of Homeowners 44X Greater than Renters

Net Worth of Homeowners 44X Greater than Renters | Keeping Current Matters

Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey data, covering 2013-2016 was released two weeks ago.

The study revealed that the 2016 median net worth of homeowners was $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.

Owning a home is a great way to build family wealth

As we’ve said before, simply put, homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth by increasing the equity in your home.

That is why, for the fourth year in a row, Gallup reported that Americans picked real estate as the best long-term investment. This year’s results showed that 34% of Americans chose real estate, followed by stocks at 26% and then gold, savings accounts/CDs, or bonds.

Greater equity in your home gives you options

If you want to find out how you can use the increased equity in your home to move to a home that better fits your current lifestyle, meet with a real estate professional in your area who can guide you through the process.

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    Client Reviews

    5/5

    It has really been a pleasure for us to work with Rama Mehra who helped us buy our first home. We were first time home buyers and Rama guided us patiently throughout the buying process. She understood our requirements and budget constraints and gave us a realistic picture of the market situation and showed us the inventory that met our constraints. She is an area expert in Tri-Valley region and she keeps touch with her clients even after the escrow process, keeping them updated on the market performance. We strongly recommend Rama and will be glad to do work with her for our future real estate needs.

    01/15/2015 Read More
    Raghu & Supraiya (via Zillow)
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