The Haves and the Have-Nots

I frequently have the conversation with buyers wondering, “Is now the right time to buy?” 

I’m sure someone will find an argument here, but the facts are that home ownership separates those who are wealthy from those who are not, especially in an area like San Mateo County where land is at a premium.  

Consider these facts:

The Net Wealth of Owners Dwarfs the Net Wealth of Renters

Income Owners Median Net Worth Renters Median Net Wealth Owner/Renter Ratio
< $20,000 $72,750 $900 80.8:1
$20,000 to 449,999 $111,890 $7,670 14.6:1
$50,000 $291,120 $37,700 7.7:1
       
Income Owners Housing Wealth Owners Non-Housing Wealth Owner Housing Wealth/Non- Housing Wealth Ratio
< $20,000 $50,000 $9,980 5.1:1
$20,000 to $49,999 $55,000 $42,000 1.3:1
$50,000+ $90,000 $175,600 0.5:1
       

 Source: JCHS tabulations of the 2001 Survey of Consumer Finances.

Vicki Moore About Vicki Moore

Office:
RE/MAX Star Properties
282 Redwood Shores Parkway
Redwood Shores, CA 94065

By Phone:
650.888.9268

Speak Your Mind

*