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    Homeownership Offers Stability & Wealth Creation

    The most recent Housing Pulse Survey released by the National Association of Realtors revealed that the two major reasons Americans prefer owning their own home instead of renting are:

    1. They want the opportunity to build equity.
    2. They want a stable and safe environment.

    Building Equity

    In a recent article by The Mortgage Reports, they report that “buying and owning a home is the essence of ‘The American Dream.’ Each month, your housing payments go toward owning your home instead of renting it; building your personal wealth and assets instead of someone else’s.

    History has shown that homeownership is a clear path to wealth-building, with homeowners boasting a net worth [that is] multiples higher than the net worth of renters.”  

    Family Stability 

    Does owning your home really create a more stable environment for your family?

    survey of property managers conducted by rent.com disclosed two reasons tenants should feel less stable with their housing situation:

    • 68% of property managers predict that rental rates will continue to rise in the next year by an average of 8%.
    • 53% of property managers said that they were more likely to bring in a new tenant at a higher rate than to negotiate and renew a lease with a current tenant they already know.

    We can see from these survey results that renting will provide anything but a stable environment in the near future.

    Bottom Line

    Homeowners enjoy a more stable environment, and at the same time are given the opportunity to build their family’s net worth.

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    Danny Cheung

    I spent over twenty five (25) years with the Department of Defense in the hardware/software design and development as well as program management prior to joining the Group in a full time capacity. I am thrilled to put my years of experience as an Electronics Engineer to assist and lead our Real Estate Group to the next level. I am committed to establishing the tools and resources necessary for our team members to work more seamlessly and effectively thus ensuring our clients full satisfaction. My wife and I have two daughters and a dog (he's more like our son). I enjoy travelling and watching sports especially football…Go Skins!

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