Does Homeownership Make Sense Financially?

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Everyone knows the social advantages of home ownership. However, some question the financial benefits of owning a home. Three recent studies shed some light on the issue.

RealtyTrac recently released a report comparing 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:

home price appreciation vs wage growth

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:

average home equity by age

It obviously makes financial sense to be a homeowner.

But, does it make sense to buy now?

The survey company Pulsenomics just issued their findings on the cost of owning versus the cost of renting. They compared historical averages to the cost you can expect to pay today.

percentage of monthly income on housing

The cost of buying is far below historical averages. Renting is another story.

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Call Christina Stramiello at Lifestyle by Design today for your free real estate consultation. No strings, no pressure, just great information.

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By Christina Stramiello, PA
Creator of:

Lifestyle by Design Real Esate

         813.334.1145

Broker: Robert Slack Fine Homes, LLC
3320 SW 33rd Rd, #100
Ocala, FL 34474

About Christina Stramiello

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