The Federal Reserve reports that the average renter has a net worth of $5,400, while the average homeowner is valued at $194,500. Crazy difference, right? This means that a homeowner's net worth is over 36 times greater than that of a renter! In addition, the average American family stands for a net worth of $81,200, while $49,856 of the whole represents home equity. That's 61.4% of the average American family's net worth - a generous chunk.
Long story short, investing in real estate is still an opportune way for individuals and families to become more financially sound.
Interested in exploring your options further and increasing your net worth? Contact Connecticut Valley Homes, custom modular home builder, to find out more information.
Sources: Keeping Current Matter