Dogeared a Renter Stat

I do my best to read a few books every month. My latest book was given to me while at the National Association of Realtors in Orlando last November. The book is called The Automatic Millionaire Homeowner by David Bach. A mortgage company was handing these books out at their booth. I thought that further investing insight would benefit my clients today and in the long run. I just read an interested statistic about renters in the first chapter. Keep in mind that this a an American book so it can be loosely carried over the boarder to our country. According to a 2003 Federal Reserve study the average American renter has a net worth of $5000.00 US. While the average home owner has a net worth of $172,000.00. (The average homeowner is 34 times more wealthy than the renter).

I personally believe that there is a time and a place to rent (as well as buy a home) but, what an interesting insight!


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