A recentĀ Survey of Consumer FinancesĀ study released by theĀ Federal ReserveĀ reveals the net worth of homeowners isĀ forty times greater than that of renters. If youāre wondering if homeownership is a good investment, the study clearly answers that question, and the answer is yes.
In a post on theĀ Liberty Street EconomicsĀ blog, theĀ Federal Reserve Bank of New YorkĀ notes thatĀ 93.3% of AmericansĀ believe buying a home isĀ definitelyĀ orĀ probablyĀ a better investment than buying stocks.
Hereās how the results break down:The survey also shows a wide range of reasons why Americans feel that way (respondents were able to pick more than one answer):
The data show how strongly Americans believe in homeownership as an investment. That belief is warranted. TheĀ Liberty Street EconomicsĀ blog put it best by saying:
āHousing represents the largest asset owned by most households and is a major means of wealth accumulation, particularly for the middle class.ā