Real Estate is generally a great investment option. It can generate ongoing passive income and can be a good long-term investment if the value increases over time. You may even use it as a part of your overall strategy to begin building wealth.
What percentage of Americans own Real Estate?
The homeownership rate of 65.4 percent was 2.0 percentage points lower than the rate in the third quarter 2020 (67.4 percent) and virtually the same as the rate in the second quarter 2021 (65.4 percent).
Why is Homeownership important?
For many people, owning a home represents the stability, independence and freedom of reaching adulthood. While that perception may be changing to some degree as more people wait longer to buy homes, it is still a major milestone. Real estate is considered by many to be a sound investment that offers unique wealth-building opportunities.
Buying a home expands options for the future, whether you plan to sell and make a profit or leverage the equity in your home to pay for other major expenses.
Benefiting the a Community
The community also benefits from the real estate taxes paid by the property owner. These funds are used for infrastructure services and projects including:
- Road repair
- Construction of schools
- Library operations
- Police and fire protection
- Parks and greenways
- Government social services
- Other enriching infrastructure projects
The impact goes beyond the financial aspect. In fact, some of the greatest community benefits are intangible. Homeowners in a city or town are often very invested in the area. They get involved in activities, volunteer for charity organizations and help out with special events. They feel a sense of belonging that is often greater than someone who is renting for a short term.
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