The Miami Beach Aquatic Center and Park, designed by Brooks + Scarpa, transcends the traditional concept of a sports or recreational facility. It presents itself as an ambitious multifunctional
THE U.S. HOMEOWNERSHIP RATE IS GROWING.
Dated: August 16 2022
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The desire to own a home is still strong today. In fact, according to the Census, the U.S. homeownership rate is on the rise. To illustrate the increase, the graph below shows the homeownership rate over the last year:
That data shows more than half of the U.S. population live in a home they own, and the percentage is growing with time.
If you’re thinking about buying a home this year, here are just a few reasons why so many people see the value of homeownership.
Why are more people becoming homeowners?
There are several benefits to owning your home. A significant one, especially when inflation is high like it is today, is that homeownership can help protect you from rising costs. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:
When you buy a home with a fixed-rate mortgage, you can lock in what’s likely your biggest monthly expense – your housing payment – for the duration of that loan, often 15-30 years.
That gives you a predictable monthly housing expense that can benefit you in the short term, but you’ll also gain equity over time as your home appreciates in value and you make your monthly mortgage payment.
And with that growing equity, your net worth will increase as well. In fact, the latest data from NAR shows the median household net worth of a homeowner is roughly $300,000, while the median net worth of renters is only about $8,000. That means a homeowner’s net worth is nearly 40 times that of a renter.
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The U.S. homeownership rate is growing. If you’re ready to purchase the home of your dreams, let’s connect so you can begin the homebuying process today.
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Jester Nino
Jester's primary objective is to enhance your real estate journey and optimize your return on investment.With the support of an exceptional team, Jester Nino strives to surpass customer expectations a....
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