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2,684,669
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Truth.   Most owners have equity.  Maybe a little, maybe a lot.  But Renters have ZERO equity.

May 24, 2023 01:56 PM
Rainmaker
1,206,636
Peter Mohylsky, Beach Expert
PMI. Destin - Miramar Beach, FL
Call me at 850-517-7098

thanks for sharing,  I kinda figured this out.  That article dives deeper into areas that are not necessarily related to buying vs renting and focus on problems in our society deeper that the wealth of renters vs home owners.  

May 24, 2023 01:38 PM
Rainmaker
5,113,121
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Yes, I was aware of this. Keeping Current Matters has been showing this differential in wealth for some years now on a regular basis.

May 25, 2023 04:22 AM
Rainmaker
633,070
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

The KCM blogs have preached this for years that the quickest way to build wealth is to own a home and stop paying your landlord's mortgage.

May 25, 2023 03:44 AM
Ambassador
3,349,554
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

 

You lost me at NAR.  

May 24, 2023 02:42 PM
Rainer
381,167
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

As a matter of fact we used that in a print ad this spring, so yes I am.

May 24, 2023 01:37 PM
Rainmaker
1,201,652
Doug Dawes
Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA - Topsfield, MA
Your Personal Realtor®

Not sure whether I was aware of the NAR report but I  am aware of the wealth gap between real estate owners and renters

May 25, 2023 04:03 AM
Rainmaker
5,240,047
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

40 nay be a stretch, but wealthier in general is a yes! It' s NAR thing!

May 25, 2023 03:42 AM
Ambassador
5,254,695
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

As homes appreciate, the gap can only widen.

Great news for investors - someone else is paying your mortgage, building your equity!

May 25, 2023 02:29 PM
Rainmaker
1,056,663
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

This almost seems like a 'DUH'  . . . as property owners have equity and in some instances appreciation/depreciation/cash flow . . .

Renters save money perhaps on taxes, insurance or repairs . . . but doing the math may not ever pencil that out for them! 

May 25, 2023 08:50 AM
Ambassador
4,718,358
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I am not aware of it, but I am not at all surprised.  I have rarely seen a renter that I felt was well-off, most seem to struggle.

May 25, 2023 05:13 AM
Rainmaker
1,506,163
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I've seen similar articles and heard similar discussions of late.  I agree.  The top 1% are the 1% because of real estate holdings.

May 26, 2023 08:41 PM
Rainmaker
971,083
Frank Rubi
Frank Rubi Real Estate, LLC - Metairie, LA
FrankRubiRealEstate.com

No, I had not read it, but I agree that 40% is a very close and accurate number. 

May 26, 2023 02:14 PM
Rainmaker
1,847,051
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

NAR has been repurposing this info since the 80's. Hope they updated the numbers .... oh maybe not!

May 26, 2023 07:31 AM
Rainmaker
1,624,853
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Yes, it seems right:  ''In 2019, homeowners in the U.S. had a median net worth of $255,000, while renters had a net worth of just $6,300.''

May 25, 2023 02:44 PM
Rainmaker
716,032
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Yep!  Why we are constantly promoting homeownership as the number one way Americans build wealth.

May 25, 2023 02:27 PM
Ambassador
3,167,714
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Yes I was aware.  And some people shouldn't be homeowners.  That sort of works itself out. 

May 25, 2023 09:55 AM
Ambassador
1,078,201
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

Yep!  Right now homeowners are sitting (average) on something like 55% home equity.  With a median home price somewhere just under or around $400k, that means home owners have nearly $200k in equity!  

Renters?  Not so much.  Appreciation, amortization, and leveraging a mortgage make for a lot of financial success : )

May 25, 2023 09:50 AM
Rainmaker
2,784,736
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Yes aware and it is spot-on in it's point. Long term hold in Real Estate will absolutely guarantee wealth.

May 25, 2023 08:37 AM
Rainmaker
906,347
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
NC Real Estate Transition & Relocation 919-602-848

Well I haven't seen this one but I did know that you're more likely to build wealth by owning a home. Thanks for sharing.

May 25, 2023 06:35 AM
Rainmaker
5,877,915
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I knew it was substantial, just didn't know how much.   Thanks for sharing!

May 25, 2023 05:36 AM
Rainmaker
2,245,675
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Stop renting, start owning. You and I beat that drum daily like John Paul Bonham. Wished NAR articles were just about the economics, sound business practices.

May 25, 2023 02:42 AM
Ambassador
6,419,449
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

I have heard similar things in the past, it makes sense since real estate is a great way to build wealth.

May 24, 2023 08:12 PM
Rainmaker
766,179
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

I haven't see this statistic.  It is a big surprise if it is really true.

May 27, 2023 04:08 PM
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