In 1960 the average price of a home in the United States was around $10,000, the average family income was just over $5000.00. In 2024 the average price of a home is now just under $425,000.00, with average family income of almost $80,000. It becomes quickly apparent that a home in 1960 was twice a family’s annual income, and today that same home is over five times more than a family’s annual income. What has not changed much at all is the percentage of home ownership in the USA, as it has remained at around 60% for the last 75 years. The single strongest investment in the United States over the last 100 years has been real estate. A $10,000 home bought in 1960, that was sold in 2024 for $425,000, would yield 85 times your original investment tax free.
Real Estate: A Secure Family Investment
There is no doubt that real estate is the most secure family investment over time. And in many cases, those who are buying and selling numerous homes over a lifetime can realize significant wealth, because you can sell your home every two years and be exempt for any capital gains up to $500,000 per sale, for a married couple. While the secret to true wealth is still a balance approach using, real estate, investments, and retirement funds, there are many today that focus primarily on growing wealth by owning property. In the last 7 years alone, home prices in the United States have doubled. This means the $500,000 home you purchased in 2017 may be valued at over a million dollars today. It would take 30 years of investing $1500.00 a month to match that same gain, you realized in home ownership in just 7 years. In addition, living in these investments and improving and upgrading them along the way just keeps adding value. Most families will own 3-4 homes in their lifetime.
Building Wealth and Livability
At New England Home Show Magazine and our numerous Home Shows we are all about bringing the vision of building wealth and livability to our followers. Each issue and every show we will bring the very best in fresh ideas, new products, great designs and spectacular previews from the very best in the business of making home better!
Home is Where the Heart is and our Best Investment as well!
