Homeowner Net Worth Has Skyrocketed

Written by Bradenton Mortgage Mortgage Syndicated User on November 11, 2023. Posted in Bradenton Mortgage, Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Mortgage Bradenton, Move-Up Buyers, Rent vs. Buy.

If you’re weighing your options to decide whether it makes more sense to rent or buy a home today, here’s one key data point that could help you feel more confident in making your decision. Every three years, the Federal Reserve Board releases the Survey of Consumer Finances (SCF). That report covers the difference in net worth for both homeowners and renters. Spoiler alert: the gap between the two is significant.The average homeowner’s net worth is almost 40X greater than a renter’s. And here’s the data to prove it (see graph below):The Big Reason Homeowner Net Worth Is So HighIn the previous...

Don’t Believe Everything You Read About Home Prices

Written by Bradenton Mortgage Mortgage Syndicated User on November 11, 2023. Posted in Bradenton Mortgage, Buying Myths, For Buyers, For Sellers, Housing Market Updates, Mortgage Bradenton, Move-Up Buyers, Selling Myths.

According to the latest data from Fannie Mae, 23% of Americans still think home prices will go down over the next twelve months. But why do roughly 1 in 4 people feel that way?It has a lot to do with all the negative talk about home prices over the past year. Since late 2022, the media has created a lot of fear about a price crash and those concerns are still lingering. You may be hearing people in your own life saying they’re worried about home prices or see on social media that some influencers are saying prices are going to come tumbling down.If you’re someone who still thinks prices are...