Do You Have More Or Less Home Equity Than The Typical American?
Buying and owning real estate is one of the main ways of creating wealth in the US. And just like your 401K or your IRA, the sooner you start, the better off you are.
The sooner you buy your home, the quicker you are paying down the principle, letting appreciation do its job and building equity in your home.
Your home may be your castle, but it's also the single largest component of your net worth. Last year, the U.S. Census Department took its most recent look at how much equity people have in their homes by age. The findings, which are based on 2011 data, offer valuable insight that may help you judge whether or not you're on the right track financially.
Read the full article at: The Typical American Has This Much In Home Equity -- How About You?
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