If you're thinking of selling your home, it's likely there has been a significant change in your life circumstances. While factors such as current mortgage rates play a crucial role in your next
The Timeless Power of Real Estate: Still the Top Choice for Long-Term Investment
Dated: June 7 2023
In the face of fluctuating home prices and ascending mortgage rates, it's natural to question whether investing in real estate is currently a good decision. A recent survey conducted by Gallup indicates that the answer remains a resounding yes. For an impressive 11th year in a row, real estate has been crowned as the most reliable long-term investment, consistently outperforming other investment avenues such as gold, stocks, and bonds (refer to the graph below):
If you're considering the purchase of a home, let this poll reassure you. Despite the current economic climate, Americans understand that homeownership is a powerful financial desicion.
Why Does Home Investment Continue to Garner Such High Esteem Among Americans?
Historically, real estate has been a robust strategy for accumulating wealth in America. Lawrence Yun, the Chief Economist at the National Association of Realtors (NAR), emphasizes:
“. . . 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.”
This wealth accumulation occurs as your home appreciates in value and you consistently reduce your mortgage debt. Considering that wealth-building is a gradual process, it's beneficial to embark on this journey sooner rather than later. Delaying homeownership in favor of renting could lead to missed opportunities, with your monthly housing payments failing to contribute to your home equity.
Purchasing a home is a decision with considerable weight, which explains why many view real estate as the prime long-term investment. If you're prepared to take the first step towards homeownership, let's begin this exciting journey today.
Steve has been a realtor in the Metro Atlanta area for several years. Before joining eXp Realty he was initially with Keller Williams for almost four years; consistently performing as one of the top 1....
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In the face of fluctuating home prices and ascending mortgage rates, it's natural to question whether investing in real estate is currently a good decision. A recent survey conducted by Gallup
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