Boston Real Estate for Sale
Boston luxury condos for sale

Boston luxury condos for sale

The New York Times recently published an editorial entitled, Homeownership and Wealth Creation.”The housing market has made a strong recovery, not only in sales and prices, but also in the confidence of consumers and experts as an investment.

The study found that the average net worth of a homeowner ($194,500) is 36x greater than that of a renter ($5,400).

One reason for this large discrepancy in net worth is the concept of ‘forced savings’ created by having a mortgage payment and was explained by the Times:

“Homeownership requires potential buyers to save for a down payment, and forces them to continue to save by paying down a portion of the mortgage principal each month.”

“Even in instances where renters have excess cash, saving a substantial amount is difficult without a near-term goal, like a down payment. It is also difficult to systematically invest each month in stocks, bonds or other assets without being compelled to do so.”

Potential Boston Luxury Condo Buyers

“As a means to building wealth, there is no practical substitute for homeownership.” If you are a Boston apartment renter who is considering making a purchase, sit with Robert Veek to learn how signing a contract to purchase  a Boston condo is bettern than renewing your lease!

Robert Veek can be reached at 617-720-5454.

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For more information please contact one of our on-call agents at 617-595-3712.

Updated: January 2018

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