{"id":2975,"date":"2020-05-18T05:00:30","date_gmt":"2020-05-18T10:00:30","guid":{"rendered":"https:\/\/nwiloanguy.com\/blog\/1-financial-benefit-of-homeownership-family-wealth\/"},"modified":"2020-05-18T05:00:30","modified_gmt":"2020-05-18T10:00:30","slug":"1-financial-benefit-of-homeownership-family-wealth","status":"publish","type":"post","link":"https:\/\/nwiloanguy.com\/blog\/1-financial-benefit-of-homeownership-family-wealth\/","title":{"rendered":"#1 Financial Benefit of Homeownership: Family Wealth"},"content":{"rendered":"

\"#1<\/p>\n

While growing up, we were taught by our parents and grandparents that owning a home is a financially savvy move. They explained how a mortgage is like a \u201cforced savings plan.\u201d When you pay rent, that money is lost forever. When you make a mortgage payment, much of that money accumulates as equity in the home. So, what exactly is equity?<\/span><\/p>\n

The equity in your home is the amount of money you can sell it for minus what you still owe on the mortgage. Every month you make a mortgage payment, and every month a portion of what you pay reduces the amount you owe. That reduction of your mortgage every month increases your equity.<\/p>\n

A recent study<\/a> by CoreLogic<\/em> explained that homeowners gained substantial equity over the last twelve months, and are essentially sitting on large sums of cash in their homes. In the study, Frank Nothaft, Chief Economist<\/em> for CoreLogic<\/em> explained:<\/p>\n

\n

“The CoreLogic Home Price Index recorded a quickening of home price gains during the fourth quarter of 2019, helping to boost home equity wealth. The average family with a mortgage had a $7,300 gain in home equity during the past year, and a total of $177,000 in home equity wealth.”<\/em><\/p>\n<\/blockquote>\n

For most families, their home is their largest financial asset. This increase in equity drives the net worth, or family wealth, of the homeowner. Renters are not earning that benefit. Instead, they\u2019re building the net worth of their landlord.<\/p>\n

Bottom Line<\/strong><\/h3>\n

Home price growth will moderate during the pandemic. But once a cure is available, most experts agree that home values will again begin to appreciate at levels similar to what we\u2019ve seen over the last several years. In the long run, our family elders will be proven correct: owning a home is a savvy financial move.<\/p>\n

Source: New feed<\/p>\n","protected":false},"excerpt":{"rendered":"

While growing up, we were taught by our parents and grandparents that owning a home is a financially savvy move. They explained how a mortgage is like a \u201cforced savings plan.\u201d When you pay rent, that money is lost forever. When you make a mortgage payment, much of that money accumulates as equity in the […]<\/p>\n","protected":false},"author":1,"featured_media":2976,"comment_status":"false","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10157519356927224_105287467588662":"","twitter_15771620_15771620":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[54],"class_list":{"0":"post-2975","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-info","8":"tag-100-financing","9":"entry"},"yoast_head":"\n#1 Financial Benefit of Homeownership: Family Wealth—NWI Loan Guy Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nwiloanguy.com\/blog\/1-financial-benefit-of-homeownership-family-wealth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"#1 Financial Benefit of Homeownership: Family Wealth—NWI Loan Guy Blog\" \/>\n<meta property=\"og:description\" content=\"While growing up, we were taught by our parents and grandparents that owning a home is a financially savvy move. They explained how a mortgage is like a \u201cforced savings plan.\u201d When you pay rent, that money is lost forever. When you make a mortgage payment, much of that money accumulates as equity in the […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nwiloanguy.com\/blog\/1-financial-benefit-of-homeownership-family-wealth\/\" \/>\n<meta property=\"og:site_name\" content=\"NWI Loan Guy Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/NWIHomeLoans\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/NWIHomeLoans\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-18T10:00:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/nwiloanguy.com\/blog\/wp-content\/uploads\/2020\/05\/20200518-KCM-Share-549x300-1.jpg?fit=549%2C300&ssl=1\" \/>\n\t<meta property=\"og:image:width\" content=\"549\" \/>\n\t<meta property=\"og:image:height\" content=\"300\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Scott\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/nwiloanguy.com\\\/blog\\\/1-financial-benefit-of-homeownership-family-wealth\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/nwiloanguy.com\\\/blog\\\/1-financial-benefit-of-homeownership-family-wealth\\\/\"},\"author\":{\"name\":\"Scott\",\"@id\":\"https:\\\/\\\/nwiloanguy.com\\\/blog\\\/#\\\/schema\\\/person\\\/a2840f8950fa5f9de1d1db60cab8be1e\"},\"headline\":\"#1 Financial Benefit of Homeownership: Family Wealth\",\"datePublished\":\"2020-05-18T10:00:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/nwiloanguy.com\\\/blog\\\/1-financial-benefit-of-homeownership-family-wealth\\\/\"},\"wordCount\":308,\"image\":{\"@id\":\"https:\\\/\\\/nwiloanguy.com\\\/blog\\\/1-financial-benefit-of-homeownership-family-wealth\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/i0.wp.com\\\/nwiloanguy.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/05\\\/20200518-KCM-Share-549x300-1.jpg?fit=549%2C300&ssl=1\",\"keywords\":[\"100% financing\"],\"articleSection\":[\"Local Info\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/nwiloanguy.com\\\/blog\\\/1-financial-benefit-of-homeownership-family-wealth\\\/\",\"url\":\"https:\\\/\\\/nwiloanguy.com\\\/blog\\\/1-financial-benefit-of-homeownership-family-wealth\\\/\",\"name\":\"#1 Financial Benefit of Homeownership: Family Wealth—NWI Loan Guy Blog\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/nwiloanguy.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/nwiloanguy.com\\\/blog\\\/1-financial-benefit-of-homeownership-family-wealth\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/nwiloanguy.com\\\/blog\\\/1-financial-benefit-of-homeownership-family-wealth\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/i0.wp.com\\\/nwiloanguy.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/05\\\/20200518-KCM-Share-549x300-1.jpg?fit=549%2C300&ssl=1\",\"datePublished\":\"2020-05-18T10:00:30+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/nwiloanguy.com\\\/blog\\\/#\\\/schema\\\/person\\\/a2840f8950fa5f9de1d1db60cab8be1e\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/nwiloanguy.com\\\/blog\\\/1-financial-benefit-of-homeownership-family-wealth\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/nwiloanguy.com\\\/blog\\\/1-financial-benefit-of-homeownership-family-wealth\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/nwiloanguy.com\\\/blog\\\/1-financial-benefit-of-homeownership-family-wealth\\\/#primaryimage\",\"url\":\"https:\\\/\\\/i0.wp.com\\\/nwiloanguy.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/05\\\/20200518-KCM-Share-549x300-1.jpg?fit=549%2C300&ssl=1\",\"contentUrl\":\"https:\\\/\\\/i0.wp.com\\\/nwiloanguy.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/05\\\/20200518-KCM-Share-549x300-1.jpg?fit=549%2C300&ssl=1\",\"width\":549,\"height\":300},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/nwiloanguy.com\\\/blog\\\/1-financial-benefit-of-homeownership-family-wealth\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/nwiloanguy.com\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"#1 Financial Benefit of Homeownership: Family Wealth\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/nwiloanguy.com\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/nwiloanguy.com\\\/blog\\\/\",\"name\":\"NWI Loan Guy Blog\",\"description\":\"Home Loans and Mortgage Refinances in Indiana and Illinois\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/nwiloanguy.com\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/nwiloanguy.com\\\/blog\\\/#\\\/schema\\\/person\\\/a2840f8950fa5f9de1d1db60cab8be1e\",\"name\":\"Scott\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/7070c0e7f57008527a09dbef24de155ba16daedbf61748d3598995b65c3c0ce5?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/7070c0e7f57008527a09dbef24de155ba16daedbf61748d3598995b65c3c0ce5?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/7070c0e7f57008527a09dbef24de155ba16daedbf61748d3598995b65c3c0ce5?s=96&d=mm&r=g\",\"caption\":\"Scott\"},\"sameAs\":[\"http:\\\/\\\/www.nwiloanguy.com\",\"https:\\\/\\\/www.facebook.com\\\/NWIHomeLoans\",\"https:\\\/\\\/x.com\\\/loan_guy\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"#1 Financial Benefit of Homeownership: Family Wealth—NWI Loan Guy Blog","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nwiloanguy.com\/blog\/1-financial-benefit-of-homeownership-family-wealth\/","og_locale":"en_US","og_type":"article","og_title":"#1 Financial Benefit of Homeownership: Family Wealth—NWI Loan Guy Blog","og_description":"While growing up, we were taught by our parents and grandparents that owning a home is a financially savvy move. They explained how a mortgage is like a \u201cforced savings plan.\u201d When you pay rent, that money is lost forever. When you make a mortgage payment, much of that money accumulates as equity in the […]","og_url":"https:\/\/nwiloanguy.com\/blog\/1-financial-benefit-of-homeownership-family-wealth\/","og_site_name":"NWI Loan Guy Blog","article_publisher":"https:\/\/www.facebook.com\/NWIHomeLoans","article_author":"https:\/\/www.facebook.com\/NWIHomeLoans","article_published_time":"2020-05-18T10:00:30+00:00","og_image":[{"width":549,"height":300,"url":"https:\/\/i0.wp.com\/nwiloanguy.com\/blog\/wp-content\/uploads\/2020\/05\/20200518-KCM-Share-549x300-1.jpg?fit=549%2C300&ssl=1","type":"image\/jpeg"}],"author":"Scott","twitter_misc":{"Written by":"Scott","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/nwiloanguy.com\/blog\/1-financial-benefit-of-homeownership-family-wealth\/#article","isPartOf":{"@id":"https:\/\/nwiloanguy.com\/blog\/1-financial-benefit-of-homeownership-family-wealth\/"},"author":{"name":"Scott","@id":"https:\/\/nwiloanguy.com\/blog\/#\/schema\/person\/a2840f8950fa5f9de1d1db60cab8be1e"},"headline":"#1 Financial Benefit of Homeownership: Family Wealth","datePublished":"2020-05-18T10:00:30+00:00","mainEntityOfPage":{"@id":"https:\/\/nwiloanguy.com\/blog\/1-financial-benefit-of-homeownership-family-wealth\/"},"wordCount":308,"image":{"@id":"https:\/\/nwiloanguy.com\/blog\/1-financial-benefit-of-homeownership-family-wealth\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/nwiloanguy.com\/blog\/wp-content\/uploads\/2020\/05\/20200518-KCM-Share-549x300-1.jpg?fit=549%2C300&ssl=1","keywords":["100% financing"],"articleSection":["Local Info"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/nwiloanguy.com\/blog\/1-financial-benefit-of-homeownership-family-wealth\/","url":"https:\/\/nwiloanguy.com\/blog\/1-financial-benefit-of-homeownership-family-wealth\/","name":"#1 Financial Benefit of Homeownership: Family Wealth—NWI Loan Guy Blog","isPartOf":{"@id":"https:\/\/nwiloanguy.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/nwiloanguy.com\/blog\/1-financial-benefit-of-homeownership-family-wealth\/#primaryimage"},"image":{"@id":"https:\/\/nwiloanguy.com\/blog\/1-financial-benefit-of-homeownership-family-wealth\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/nwiloanguy.com\/blog\/wp-content\/uploads\/2020\/05\/20200518-KCM-Share-549x300-1.jpg?fit=549%2C300&ssl=1","datePublished":"2020-05-18T10:00:30+00:00","author":{"@id":"https:\/\/nwiloanguy.com\/blog\/#\/schema\/person\/a2840f8950fa5f9de1d1db60cab8be1e"},"breadcrumb":{"@id":"https:\/\/nwiloanguy.com\/blog\/1-financial-benefit-of-homeownership-family-wealth\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/nwiloanguy.com\/blog\/1-financial-benefit-of-homeownership-family-wealth\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nwiloanguy.com\/blog\/1-financial-benefit-of-homeownership-family-wealth\/#primaryimage","url":"https:\/\/i0.wp.com\/nwiloanguy.com\/blog\/wp-content\/uploads\/2020\/05\/20200518-KCM-Share-549x300-1.jpg?fit=549%2C300&ssl=1","contentUrl":"https:\/\/i0.wp.com\/nwiloanguy.com\/blog\/wp-content\/uploads\/2020\/05\/20200518-KCM-Share-549x300-1.jpg?fit=549%2C300&ssl=1","width":549,"height":300},{"@type":"BreadcrumbList","@id":"https:\/\/nwiloanguy.com\/blog\/1-financial-benefit-of-homeownership-family-wealth\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/nwiloanguy.com\/blog\/"},{"@type":"ListItem","position":2,"name":"#1 Financial Benefit of Homeownership: Family Wealth"}]},{"@type":"WebSite","@id":"https:\/\/nwiloanguy.com\/blog\/#website","url":"https:\/\/nwiloanguy.com\/blog\/","name":"NWI Loan Guy Blog","description":"Home Loans and Mortgage Refinances in Indiana and Illinois","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/nwiloanguy.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/nwiloanguy.com\/blog\/#\/schema\/person\/a2840f8950fa5f9de1d1db60cab8be1e","name":"Scott","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/7070c0e7f57008527a09dbef24de155ba16daedbf61748d3598995b65c3c0ce5?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/7070c0e7f57008527a09dbef24de155ba16daedbf61748d3598995b65c3c0ce5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7070c0e7f57008527a09dbef24de155ba16daedbf61748d3598995b65c3c0ce5?s=96&d=mm&r=g","caption":"Scott"},"sameAs":["http:\/\/www.nwiloanguy.com","https:\/\/www.facebook.com\/NWIHomeLoans","https:\/\/x.com\/loan_guy"]}]}},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/nwiloanguy.com\/blog\/wp-content\/uploads\/2020\/05\/20200518-KCM-Share-549x300-1.jpg?fit=549%2C300&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p65HxI-LZ","jetpack-related-posts":[],"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/nwiloanguy.com\/blog\/wp-json\/wp\/v2\/posts\/2975","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nwiloanguy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nwiloanguy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nwiloanguy.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nwiloanguy.com\/blog\/wp-json\/wp\/v2\/comments?post=2975"}],"version-history":[{"count":0,"href":"https:\/\/nwiloanguy.com\/blog\/wp-json\/wp\/v2\/posts\/2975\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nwiloanguy.com\/blog\/wp-json\/wp\/v2\/media\/2976"}],"wp:attachment":[{"href":"https:\/\/nwiloanguy.com\/blog\/wp-json\/wp\/v2\/media?parent=2975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nwiloanguy.com\/blog\/wp-json\/wp\/v2\/categories?post=2975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nwiloanguy.com\/blog\/wp-json\/wp\/v2\/tags?post=2975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}