Many have taken a hit to their home equity over the last couple of years, some are wondering is it still a smart financial decision. Good news, according to a recent analysis of the Federal Reserve and the National Association of Realtors the answer is still yes.
Compared to renting, home owners have a much greater household wealth. Owner’s wealth exceeds that of renters by a factor of 50-to-1: a median of $205,300 versus a median of $4,200, the wealth difference is of course equity. If you have owned your home since 2003, equity gains are greater and in some cases have been significant. Interesting…
