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Middle-Class Homeownership & Wealth Creation

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!