Everyone knows thesocial advantagesof home ownership. However, some question the financial benefits of owning a home. Three recent studies shed some light on the issue.
RealtyTracrecently released areportcomparing home price appreciation to wage growth over the last two years. The study revealed that home price appreciation has outpaced wage growth in 76% of U.S. housing markets during that time period. By how much? Here is a graph showing their findings:
And we all know the importance of home appreciation in determining the net wealth of most American families. Merrill Lynch just issued a report covering the issue. Their findings are shown here:
It obviously makes financial sense to be a homeowner.
But, does it make sense to buy now?
The survey companyPulsenomicsjust issued theirfindingson the cost of owning versus the cost of renting. They compared historical averages to the cost you can expect to pay today.
The cost of buying is far below historical averages. Renting is another story.
Author:Bethany Stalder Phone: 703-957-8762 Dated: April 20th 2015 Views: 6,942 About Bethany: Bethany Stalder is the co-owner of Fidelis Property Group, a veteran-owned real estate company dedic...
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Fidelis Property Group is a company founded on two simple principles: Loyalty to you, our client; and dedication to helping you find your perfect home in Northern Virginia. These principles are rooted in a culture instilled in our members while serving with the U.S. Marine Corps. We know what it means to serve, and we understand the challenges of relocating - so we dedicate ourselves to supporting you as you transition to a new home and community.
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