In the second quarter of 2024, U.S. homeowners with mortgages had a net homeowner equity of over $17.6 trillion, according to CoreLogic.
It's also generally considered a path to build wealth and increase your net worth , financial experts say.
It's a way to increase your net worth over time.
Homeowners can start to see their equity and net worth increase within five to 10 years.
Homeownership allows you to increase your net worth because you can build equity through mortgage payments, which increases your asset value over time as the property appreciates in value, experts say.
Persons:
It's, Steven LaRosa, Freddie Mac
Organizations:
Edgemoor Investment, Urban Institute
Locations:
Bethesda , Maryland