On Average, Home Owners have a Median Net Worth of Nearly $200,000, While Renters Have Only $4,000 in Net Worth - by Lawrence Yun, Cheif Economi of NAR
The Economy has been statistically out of recession for more than four years, yet a majority of households say we are still in downturn. The Consumer Confidence Index has been rebounding from a low of 45 at the depth of the recession to a figure of 80.
The Housing Market and Stocks have been among the bright spots. Rising Home Prices have pushed up net equity holdings by $2 trillion in the past couple of years and stock gains helped push total household worth to an all-time high.
The most telling evidence of the contradictory nature of our times is reflected in the Net Worth of Home Owners versus Renters. On average, Home Owners have a Median Worth of nearly $200,000, while Renters are essentially living paycheck to paycheck with only $4,000 in net worth on average.
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