BrokerageIndustry News

2013 may hold upside surprise for real estate

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Editor's note: This is the second of a two-part series. See Part 1. The 2013 economic forecast from the National Association of Realtors' annual conference was a mixed bag, but buried within it there were nuggets of good news to help you grow your business next year. What does 2013 have in store for our industry? The news may be better than you anticipate. The following areas represent bright spots that will continue to make real estate one of the soundest investments that anyone can make. 1. Real estate ownership builds wealthOne of the most powerful reasons for anyone to purchase real estate is that real estate ownership builds wealth. In contrast, renting actually prevents wealth accumulation. To illustrate this point, the Federal Reserve data on the median net worth of renters vs. owners shows that the typical renter has about $5,000 in assets. Compare this to the typical homeowner, who in 1998 had a net worth of approximately $175,000. In 2001 and 2004, that number ...