With home prices rising US homeowners have gained an incredible amount of home equity. On today’s show, I’m going to be sharing the latest data on home equity, and what homeowners can do to take advantage of this massive increase in wealth.
As I’ve always said, real estate is the number one way to build wealth in the United States. This massive jump in equity is a testament to the power of buying real estate. Click play to learn more about home equity, buying rental properties, and creating wealth!
More About This Show
In the second quarter of 2024, homeowner equity reached a whopping $35.1 trillion. Because of this, the net worth of US households saw its highest increase ever. This is of course because home prices have risen dramatically in recent years. Now homeowners are reaping the benefits of a substantial increase in equity.
So what can you do if you’re among the homeowners who have gained equity in your home? There’s never been a better time to make the jump from homeowner to investor. This is an incredible opportunity to keep building your net worth and growing your wealth. You can use a banking product like a home equity line of credit to cash in on that equity and buy more real estate.
Head to your local bank to pursue your options or reach out to my friend Dan Kraus at Churchill Mortgage to discuss your options for tapping into your home equity.
There’s nothing more powerful than owning tangible assets. Every year that you own a piece of real estate, it appreciates in value. Imagine owning multiple rental properties that cover your monthly expenses, grow your net worth, and help you build financial freedom.
Episode Resources
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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