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Why Does Home Ownership Matter?

The National Association of Realtors (NAR), Trulia and The Boston Herald have some interesting facts to share.

According to a recent report released by Trulia and cited by the Boston Herald it may make more sense to buy a home rather than rent in the Boston area in the current real estate climate.

Did you know that the net worth of homeowners has historically ranged from 31 to 46 times that of renters? Or that a fixed-rate mortgage might not change for 15 to 30 years (often the entire duration of the loan) but rent has historically increased at a rate of 3% per year?

Homeowners are also doing their duty to the American economy as well. Every home purchased contributes $60,000 into the economy. (source: NAR)

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