Much Higher Net Worth According to a study done by the Federal Reserve Board of Consumer Finance, the average net worth of renters is $4,000 compared to that of $175,000 for homeowners. There are obviously many things that contribute to that but there are two obvious ones. A homeowner with a mortgage is like a forced savings account with a certain portion of the payment going to reduce the debt each month. The other advantage is that the owners’ equity increases as the home appreciates. If you know of someone who wants to increase their Net Worth, I appreciate the referral! Mike
Posted on: Wed, 24 Jul 2013 14:18:59 +0000