A Homeowners Net Worth is 30X Greater Than A Renters

Homeownership remains one of the most consistent wealth-building tools available to the average household. Steve Harney, a 30-year real estate veteran and industry thought leader, laid out a compelling case for why more renters should consider buying, backed by data worth internalizing.

• Owning a home is, on average, meaningfully cheaper than renting over time.

• Homeowners carry a dramatically higher average net worth than renters.

• Real estate prices have historically continued appreciating year over year.

• Rising interest rates increase the cost of waiting to buy.

• The cost of delaying a home purchase by even a year can add tens of thousands of dollars over the life of a loan.

For Realtors and mortgage professionals, the implication is straightforward: a defined first-time homebuyer strategy belongs in every serious business plan. The data makes the case on its own — the work is building a consistent system to reach renters before a competitor does.

What's your plan this year for capturing your share of first-time homebuyers?