Home Ownership Builds Wealth and Offers Stability

Homeowner-Stability-Karen JonesThe most recent Housing Pulse Survey released by the National Association of Realtors® revealed that the two major reasons Americans prefer owning their own home instead of renting are:

  • They want a stable and safe environment.
  • They want the opportunity to build equity.

Building Equity
In a recent article, John Taylor, CEO of the National Community Reinvestment Coalition, explained that those who lack the opportunity to become homeowners have a weakened ability to reinvest their wealth:
“We traditionally have been huge supporters of  Home ownership Builds Wealth and Offers Stability ownership. We see it as a way to provide stability for households but also as an asset-building strategy. If you continue to be a renter, locked out of the home ownership arena, increasingly those things are further and further out of reach. They’re joined at the hip. They perpetuate each other.”

Family Stability
Does owning your home really create a more stable environment for your family? A survey of property managers conducted by rent.com last month disclosed two reasons tenants should feel less stable with their housing situation:

  • 68% of property managers predict that rental rates will continue to rise in the next year by an average of 8%.
  • 53% of property managers said that they were more likely to bring in a new tenant at a higher rate than negotiate and renew a lease with a current tenant they already know.

We can see from these survey results that renting will provide anything but a stable environment in the near future.

Bottom Line

Homeowners enjoy a more stable environment and at the same time are  given the opportunity to build their family’s net worth.

 

Karen Jones Banner with Disclosure

AmeriFirst Financial, Inc., 1550 E. McKellips Road, Suite 117, Mesa, AZ 85203 (NMLS # 145368). 1­877­276­1974. Copyright 2017. All Rights Reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all loan amounts. Other restrictions and limitations apply. AZ: Arizona Mortgage Banker License No. BK0013635; CA: Licensed by The Department of Business Oversight under the California Residential Mortgage Lending Act; CO: Regulated by the Division of Real Estate; WA: Washington Consumer Loan Company License No. CL­145368. AmeriFirst Financial, Inc. is an independent mortgage lender and is not affiliated with the Department of Housing and Urban Development (HUD) or the Federal Housing Administration (FHA). Karen Jones is a licensed loan originator at AmeriFirst Financial.,Inc. Karen Jones complies with all regulations and rules of all government agencies and regulators including the Real Estate Settlement and Procedures Act. The services provided by Karen Jones are not a condition, nor do they create any obligation for any form of remuneration for any real estate settlement service related to any referral.

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