Real Estate Builds Wealth

There is greater proof that many of our parents were right when they impressed upon us the value of homeownership. The controlled housing expense established with a purchase, sense of security over the long term, and forced savings created with a mortgage continues to prove true for almost every generational cohort born in the 20th century. The New York Times on May 14 estimated the following real estate held by different generations and the percent of wealth this represented. 

Silent Generation (born before 1946) $18.2 trillion 25.8% of assets

Baby Boomers (1946-1964) $78.3 trillion 24.1%

Gen X (1965-1980) $47.8 trillion 20.1%

Millennials (1981-1996) $14.2 trillion 38.7%

Owning your own home has many postive benefits such as: the abiltiy to make other investments, increasing your buying power, helps establish strong credit, but most importantly, it is creating wealth that you can pass on to your children and all future generations.

Please give me a call at Premier Funding Network to answer any of your mortgage questions at 714-283-9900.

 


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