Not buying a home is the single biggest mistake

Real Estate

We recognize that our industry changes every day, especially today with the millennial generation beginning to enter the housing market. I came across this article and thought you may find it very informative in regards to prospective clients.

Self-made millionaire: Not buying a home is the single biggest millennial mistake

Buying a home is "an escalator to wealth," David Bach tells CNBC. Young adults in particular aren't hopping on this escalator, and it's a costly mistake, Bach warns: "If millennials don't buy a home, their chances of actually having any wealth in this country are little to none. The average homeowner to this day is 38 times wealthier than a renter."

The self-made millionaire is quick to say that the smartest investments he's ever made have been the three homes he's purchased. He tells CNBC: "I first bought a home in San Francisco. It skyrocketed in price. I moved to New York and bought another home. It skyrocketed in price. My net worth has gone up millions and millions of dollars, simply because I've lived." Read more 

I hope you find this information beneficial to the growth of your business. I look forward to the continuation of our relationship. Please contact me at 240-223-1603 or wsteinberg@firstsavings.com if I can assist you or any of your clients.

Article Source: http://www.cnbc.com/2016/12/30/self-made-millionaire-buy-a-home.html