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Family Wealth Grows as Home Equity Builds

Family Wealth Grows as Home Equity Builds

Posted by NooshiAdmin in Blog 21 Oct 2015

Family-Wealth-KCM

With residential real estate values rising quite substantially in most parts of the country over the last few years, many homeowners are seeing a major increase in their family’s wealth as equity continues to build in their house.

A recent study by the Joint Center of Housing Studies at Harvard University revealed that home equity grew nicely last year and has grown dramatically over the last five years…

Equity.1-KCM

Buyers looking today may not see the same build-up in equity but could still do quite well.

Let’s assume you went into contract in the next six weeks and closed on a $250,000 home in January. If we take the house value projections from the last Home Price Expectation Survey, here is how your equity would grow over the next four years:

Equity.2-KCM

Bottom Line

Homeownership has historically been a great way for the average American family to build wealth over time.

Source : KCM.com