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Aug 22

B&A: In 6 Weeks, a Dated '90s Bathroom Becomes a Sophisticated, Spa-Like Space


Bold wallpaper and floating fixtures bring this bathroom into the 2020s.
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16
Aug 22

The Brand Behind One of Our Favorite Sofas Is Having an Early Labor Day Sale on Modular Loveseats, Sectionals, and Armchairs


Early access to Labor Day savings on long-lasting furniture.
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16
Aug 22

You Can “Remove” Wood Paneling Without Actually Removing It, According to TikTok


No demo necessary.
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16
Aug 22

Get Ready for Fall Baking with This Sale on KitchenAid’s Powerhouse Stand Mixer


You can’t go wrong with a KitchendAid!
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16
Aug 22

This Editor-Favorite Foam Pillow Is Half the Price of the Fancier Brands and on Major Sale Right Now


Supportive, cooling, breathable it covers all the bases.
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15
Aug 22

The U.S. Homeownership Rate Is Growing

The U.S. Homeownership Rate Is Growing | Simplifying The Market

The desire to own a home is still strong today. In fact, according to the Census, the U.S. homeownership rate is on the rise. To illustrate the increase, the graph below shows the homeownership rate over the last year:

The U.S. Homeownership Rate Is Growing | Simplifying The Market

That data shows more than half of the U.S. population live in a home they own, and the percentage is growing with time.

If you’re thinking about buying a home this year, here are just a few reasons why so many people see the value of homeownership.

Why Are More People Becoming Homeowners?

There are several benefits to owning your home. A significant one, especially when inflation is high like it is today, is that homeownership can help protect you from rising costs. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:

“In the 1970s, when inflation was running around 10%, home prices were rising at approximately the same rate. Renters actually have a harder time in inflationary periods, because rents tend to rise along with inflation, whereas mortgage payments stay the same for homeowners with fixed-rate mortgages.”

When you buy a home with a fixed-rate mortgage, you can lock in what’s likely your biggest monthly expense – your housing payment – for the duration of that loan, often 15-30 years.

That gives you a predictable monthly housing expense that can benefit you in the short term, but you’ll also gain equity over time as your home appreciates in value and you make your monthly mortgage payment.

And with that growing equity, your net worth will increase as well. In fact, the latest data from NAR shows the median household net worth of a homeowner is roughly $300,000, while the median net worth of renters is only about $8,000. That means a homeowner’s net worth is nearly 40 times that of a renter.

The U.S. Homeownership Rate Is Growing | Simplifying The Market

Bottom Line

The U.S. homeownership rate is growing. If you’re ready to purchase the home of your dreams, let’s connect so you can begin the homebuying process today.

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15
Aug 22

4 Ways to Spot a Worthwhile Fixer Versus a Money Pit


It’s better to know exactly what you’re getting into.
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15
Aug 22

B&A: DIY Built-Ins and Dramatic Paint Transform This Family's Reading Room


“The only thing we would do differently is doing it earlier,” these homeowners say of their DIY project. “It has really made the space feel purposeful.”
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Aug 22

What's the Difference Between Mildew and Mold?


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Aug 22

This Is the Dog Breed That Americans Love to Spoil the Most


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