Real Estate Is Still Considered the Best Long-Term Investment
June 5, 2023
June 5, 2023
With all the headlines circulating about home prices and rising mortgage rates, you may wonder if it still makes sense to invest in homeownership right now. A recent poll from Gallup shows the answer is yes. In fact, real estate was voted the best long-term investment for the 11th consecutive year, consistently beating other investment types like gold, stocks, and bonds (see graph below):
If you’re thinking about purchasing a home, let this poll reassure you. Even with everything happening today, Americans recognize owning a home is a powerful financial decision.
Purchasing real estate has typically been a solid long-term strategy for building wealth in America. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), notes:
". . . homeownership is a catalyst for building wealth for people from all walks of life. A monthly mortgage payment is often considered a forced savings account that helps homeowners build a net worth about 40 times higher than that of a renter."
That’s because owning a home grows your net worth over time as your home appreciates in value and as you pay down your mortgage. And, since building that wealth takes time, it may make sense to start as soon as you can. If you wait to buy and keep renting, you’ll miss out on those monthly housing payments going toward your home equity.
Buying a home is a powerful decision. So, it’s no wonder so many people view real estate as the best long-term investment. If you’re ready to start on your own journey toward homeownership, connect with a local real estate advisor today.
September 26, 2023
Mortgage rates directly impact the monthly payment you’ll have on the home you purchase.
August 31, 2023
If you’ve been in your home for a while, you might have gained a considerable amount of equity, too.
August 30, 2023
Here’s a high-level overview of the connection between the inflation and housing market.
August 29, 2023
The latest data shows plenty of buyers are still out there, and they’re purchasing homes today.
August 28, 2023
Here’s some information you may find helpful on why and where your peers are buying.
August 23, 2023
If you’re thinking about selling your house, a strong job market, growing wages, and the resulting buyer demand is fantastic news.
August 17, 2023
Since most are paying on time, a wave isn’t coming.
August 16, 2023
More people are buying less expensive newly built homes right now while affordability remains a challenge.
August 15, 2023
There aren’t many homeowners who are seriously behind on their mortgage payments.
We’re here to work alongside you to help you make informed decisions when buying or selling your home or investment. Contact us to get started today.
