Why Homeownership Wins in the Long Run
With higher mortgage rates and concerns about a potential recession, people are questioning whether to buy a home this year. However, it’s crucial to consider the long-term benefits of homeownership. Home values tend to grow over time, leading to wealth accumulation. A recent survey shows that 70% of respondents believe buying a home is a safe investment. Home price appreciation has been significant, with national averages of over 56% in five years and over 290% in 30 years. Despite talks of a housing crash, prices are rebounding, making homeownership a wise choice compared to renting.
