More Homeowners Renovating Instead of Moving Up. More homeowners are staying in their homes longer than ever before, locked into historically low mortgage rates and choosing not to move up to another home despite rising equity in their current home.
Recently, David Greene, co-host of the BiggerPockets podcast and a nationally renowned author and speaker, wrote an article in Forbes explaining how investing in real estate could help build wealth. Many of the points he made also apply to a family owning their own home. Here are a few:
In a recent Insights Blog, CoreLogic reported that rent prices have skyrocketed since 2005. Meanwhile, the typical mortgage payment has actually decreased. “CoreLogic’s national rent index was up 36% […]