Real Estate
Everyone’s interpretation of the American Dream is unique and personal. But, for many people, it’s tied to a sense of success, freedom, and prosperity. These are all things that owning a home can help provide.
A recent survey from Bankrate asked respondents which achievements they feel most embody the American Dream. The responses prove owning a home is still important to so many Americans today (see graph below):
As the graph shows, homeownership ranks above other significant milestones, including retirement, having a successful career, and earning a college degree.
A recent report from MYND helps shed light on why so many people value homeownership. It finds:
“. . . nearly two-thirds of Americans (65%) see homeownership as a means of building intergenerational wealth.”
That’s because, when you own a home, your equity (and net worth) grows over time as you pay down your home loan and as home prices appreciate. This can be a key factor in building intergenerational wealth and long-term financial stability.
To further drive home the difference homeownership can make in your life, a report from Fannie Mae says:
“Most consumers (87%) believe owning a home is important to ‘live the good life.’ . . . Notably, significantly more see ‘having less stress’ as a benefit achieved by owning than renting.”
Especially today, this could be because, when you own a home with a fixed-rate mortgage, you stabilize what’s likely your largest monthly expense (your housing cost), and that helps combat the impact of rising costs from inflation.
While it may feel challenging to buy a home today with higher mortgage rates and home prices, if the time is right for you, know that when you buy a home, incredible benefits are waiting for you at the end of your journey.
Buying a home is a significant and powerful choice, embodying the foundation of the American Dream. If you plan to make your homeownership dream a reality this year, let’s connect to start the process.
Stay up to date on the latest real estate trends.
Mortgage
Thanks to recent home price appreciation, homeowners have near record amounts of equity – and you may too
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2 beds | 2 baths | 1,971 sq ft
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Let’s take a look at some historical data to show what’s happened in the housing market during each recession
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Some areas are still super competitive for buyers, while others are seeing more homes sit on the market
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Most homeowners today are in a much stronger equity position, even with rising costs.
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What’s holding you back from taking advantage of this sweet spot?
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There’s a much wider selection of homes for sale, with more fresh listings hitting the market each month.
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Real estate rewards those who get in the market, not those who try to time it perfectly
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Your equity isn’t just a number. It’s a tool.
You’ve got questions and we can’t wait to answer them.