Homeownership isn’t just about having a place to live. It’s the single biggest wealth-builder for most Americans. In fact, recent data shows the typical homeowner holds nearly 40 times more net worth than the typical renter. Why such a huge gap? Because owning a home lets you build equity automatically as the mortgage balance drops and the property value rises over time. Renters keep paying, but nothing builds. If you’ve ever wondered whether buying is worth it in a higher-rate environment, the numbers make the case — owning wins, almost every time.
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