“Over 90 percent of metro areas have experienced declining homeownership rates at a time when home values have risen and incomes have remained flat.”Increasing home values in many regions of the country have helped homeowners build housing wealth in recent years. However, the continued decline in homeownership means this increase in wealth is shared by fewer people and likely leading to worsening inequality in the U.S. Here is a chart showing the aforementioned increasing gap between renters and homeowners in regard to family wealth: 40 times the wealth of a renter by the end of this year, doesn’t it make sense to evaluate if a purchase could be in your future? Meet with a real estate professional in your local market to find out how you can start building your family’s wealth.
Source: The KCM Crew / Keeping Current Matters 05122015