The most recent Housing Pulse Survey released by the National Association of Realtorsrevealed that the two major reasons Americans prefer owning their own home instead of renting are:
They want the opportunity to build equity.
They want a stable and safe environment.
John Taylor, CEO of the National Community Reinvestment Coalition,explainsthat those who lack the opportunity to become homeowners have a weakened ability to reinvest their wealth:
“We traditionally have been huge supporters of homeownership. 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 homeownership arena, increasingly those things are further and further out of reach. They’re joined at the hip. They perpetuate each other.”
Does owning your home really create a more stable environment for your family?
A survey of property managers conducted by rent.comdisclosed 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.
Homeowners enjoy a more stable environment and at the same time are given the opportunity to build their family’s net worth.
Author:Scottie Smith II Phone: 469-319-0896 Dated: July 14th 2016 Views: 126 About Scottie: "My goal is simple...To help People. My commitment to help is fueled by my passion to make a differe...
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SCOTTIE SMITH II & ASSOCIATES is one of Dallas/Fort Worth’s fastest growing boutique brokerage firms. We are located in the historic Deep Ellum District of Dallas, Texas and focus on addressing the needs of home buyers, sellers, and investors. We do more than close real estate transactions; we help our clients build wealth and restore communities!
The Impact of Homeownership on Family HealthThe National Associat
"After going through a failed sale, a business partner introduced me to Scottie. He came over and did a walkthrough and presented me with statistical data on my house and neighborhood. Scottie had complete confidence that my would sell in no time. He was right! I was very impressed with the amount of traffic my house received, not to mention the contract. Scottie and his team were A1 and professional! After completing some "to-do" items for him and the buyers, I signed the paperwork and closed the sell of the house to the new home owners today! Smoothest process ever!"