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Move-Up Buyers

How Long Do Most Families Live in a House Before Thinking of Selling?

How Long Do Most Families Live in a House - homeonwership

Homeownership – How long? The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of their data points, which has changed dramatically, is the median tenure of a family in a home, meaning how long a family stays in a home prior to moving. As the graph below shows, over the last twenty years…

Homeownership Benefits, Go Beyond the Financial

The Benefits of Homeownership Go Beyond the Financial

Homeownership the American Dream… Homeownership is a major part of the American Dream. As evidence of that, 91% of Americans believe that owning a home is either essential (43%) or important (48%) to achieving that “dream.” In a market where some people may be unsure about the benefits and possibilities of buying a home, it…

There’s More to a Bubble Than Rising Home Prices

There’s More to a Bubble Than Rising Home Prices

What truly causes a housing bubble and the inevitable crash? For the best explanation, let’s go to a person who correctly called the last housing bubble – a year before it happened. “A bubble requires both overvaluation based on fundamentals and speculation. It is natural to focus on an asset’s fundamental value, but the real…

Buying a Home Remains Cheaper Than Renting in 39 States!

Buying a Home Remains Cheaper Than Renting in 39 States!

Thinking of Buying a Home? Everyone wants to save money.  Did you know buying a home is cheaper than renting.  Here’s why…… In the latest Rent vs. Buy Report from Trulia, they explained that buying a home remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the…

Net Worth of Homeowners 44 Times Greater than Renters

Net Worth of Homeowners 44X Greater than Renters

Net Worth = Rent vs. Buy… Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect net worth data across all economic and social groups. The latest survey data, covering 2013-2016 was released two weeks ago. The study revealed that the 2016 median net worth of homeowners was $231,400 – a 15% increase since…

Millennials to Millionaire: Now is the time to Buy a Home Now!

Millionaire to Millennials: Buy a Home Now!

Millennials to Millionaire… In a CNBC article, self-made millionaire David Bach explained that “the single biggest mistake millennials are making” is not purchasing a home because buying real estate is “an escalator to wealth.” Bach went on to explain: “If millennials don’t buy a home, their chances of actually having any wealth in this country are little to none. The…

Down Payment… No… You Do Not Need 20% Down to Buy NOW!

No… You Do Not Need 20% Down Payment to Buy NOW!

Down Payment… The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still somewhat confused about what down payment is required to qualify for a home mortgage loan in today’s housing market. The results of the survey show that non-homeowners cite the main reason for not currently owning…

A Tale of Two Real Estate Markets: A 6-Month Update

A Tale of Two Markets: A 6-Month Update

Two Real Estate Markets… Six months ago, we reported that the mismatch between the type of inventory of homes for sale and the demand of buyers in the US was causing the formation of two real estate markets. In the starter and trade-up home categories, there were significantly more buyers than there were homes for…

Homeownership Is a Precondition of the American Dream

Report: Homeownership Is a Precondition of the American Dream

Homeownership The American Dream… Hearth just released their 2017 State of the American Dream report which showed that Americans still see homeownership as an integral piece of the American Dream. The report confirmed that “all generations–including millennials – agree homeownership is very important to achieving the American Dream.” Americans ranked “owning a home I love”…

How Your Home Value Grows Your Family’s Wealth

How Your Home’s Value Grows Your Family’s Wealth

Think about Your Home Value… Over the next five years, home prices are expected to appreciate 3.64% per year on average and to grow by 18.4% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey. So, what does this mean for homeowners and their equity position? As an example, let’s assume a young couple purchased and closed on…

America Needs Your House!! Housing Shortage

America Needs Your House!!

Housing Shortage… The biggest challenge in today’s real estate market is a lack of housing inventory. How big of a challenge is the housing shortage? Here are what four industry economists are saying on the issue (emphases added): Mark Fleming, First American’s Chief Economist “The underlying fundamental issue is an overwhelming lack of supply… The…

58% of Homeowners Opinion See a Drop in Home Values Coming

58% of Homeowners Opinion See a Drop in Home Values Coming

Homeowner’s Opinion According to the recently released Modern Homebuyer Survey from ValueInsured, 58 percent of homeowners opinion think there will be a “housing bubble and price correction” within the next 2 years. After what transpired just ten years ago, we can understand the concern Americans have about the current increase in home prices. However, this…

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