Petaluma Homeownership, the main source of wealth for American’s

What is the main source of wealth for American’s today?  The answer is the same one that we have been saying for years, home ownership.  Whether you are a home owner in Petaluma or Miami Florida, home ownership accounts for just about 25% of your overall worth.  These numbers show us that the American dream, is still the American dream.  When asked 7 out of 10 Americans still say that owning a home is their idea of tapping into the American Dream.  But the positive benefits of owning a home for each individual also extends itself into the US economy and each local community that these homes are purchased in.  Home sales drive our economy and help to build strong communities throughout our country.  Home ownership is just slightly under the long-term average number percentage of 66.3%.  Today American’s has amassed 14.4 trillion dollars in equity as of last quarter.  Housing itself accounts for 12.3% of our countries gross domestic product in 2017.  So whether you are looking to buy a home in Petaluma or Punxsutawney, create a plan and execute it to start building equity and wealth today!  

Thanks for Reading,

Mike Ward | Petaluma Realtor