According to the research done by the California Association of Realtors®,
the middle-class American is starting to disappear once again. An ever-widening
wealth cap is pushing some people up into the high-income bracket but
dropping even more people down into the low-income economic caste.
Fast numbers related to the housing market and economic brackets:
- 61% of Americans lived in middle-class homes in 1971; only 50% do today
- 62% of Americans were in the middle-class in 1971; only 43% are today
People may need to crunch their budgets and stress out over where they
are going to get their income to stay in the middle-class. But for people
who own their homes, the solution might be literally right over their heads.
If you own a home, you can rest easy knowing that it is most likely increasing
with value as time goes on. With regular upkeep and maintenance, you can
always depend on being able to
sell it for profit if you need to relocate. Homeownership also allows you to
build equity, a powerful financial tool that is a must if you want to
stay in the middle-class as it shrinks around you.
If you are thinking of
owning a home, you should definitely not shy away from the prospect. While it is a serious
financial commitment, it can be a great payoff if you plan ahead and put
your mind to it. Also, don’t forget that taxes on mortgages are
deductible in most situations. The key to success, though, is teaming
up with a real estate agent that genuinely cares about you.
Contact Santa Clarita Realtor Dippy of Dippy Real Estate today. She has
become well-known throughout the SCV for being a good friend to her
clients, a great listener, and an even better real estate agent. Whether you need
to buy a home or are thinking about selling yours, she is the friendly
helper for you!
Contact Dippy today or fill out an
online real estate consultation form now.