{"id":9968,"date":"2024-03-13T06:30:00","date_gmt":"2024-03-13T10:30:00","guid":{"rendered":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=9968"},"modified":"2024-03-13T06:30:00","modified_gmt":"2024-03-13T10:30:00","slug":"your-home-is-a-powerful-investment-2","status":"publish","type":"post","link":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=9968","title":{"rendered":"Your Home Is a Powerful Investment"},"content":{"rendered":"
\"Your<\/p>\n

Going into 2023, there was a lot of talk about a possible recession<\/a> that would cause the housing market to crash. Some in the media were even forecasting home prices would drop by as much as 10-20%\u2014and that might have made you feel a bit unsure about buying a home<\/a>.<\/p>\n

But here\u2019s what actually happened: home prices<\/a> went up more than usual. Brian D. Luke, Head of Commodities at S&P Dow Jones Indices<\/em>, explains<\/a>:<\/p>\n

\u201cLooking back at the year, 2023 appears to have exceeded average annual home price gains over the past 35 years.\u201d<\/em><\/p><\/blockquote>\n

To put last year\u2019s growth into context, the graph below uses data<\/a> from Freddie Mac<\/em> on how home prices have changed each year going back to 1980. The dotted line shows the long-term average for appreciation:<\/p>\n

\u00a0\"a<\/a><\/p>\n

<\/p>\n

The big takeaway?<\/strong> Home prices almost always go up. <\/strong><\/h4>\n

As an article from Forbes<\/em> says<\/a>:<\/p>\n

\u201c. . . the U.S. real estate market has a long and reliable history of increasing in value over time.\u201d<\/em><\/p><\/blockquote>\n

In fact, since 1980, the only time home prices dropped was during the housing market crash (shown in red in the graph above<\/em>). Fortunately, the market today<\/a> isn\u2019t like it was in 2008. For starters, there aren\u2019t enough available homes to meet buyer demand right now. On top of that, homeowners have a tremendous amount of equity<\/a>, so they\u2019re on much stronger footing than they were back then. That means there won\u2019t be a wave of foreclosures<\/a> that causes prices to fall.<\/p>\n

The fact that home values went up every single year except those four in red is why owning a home can be one of the smartest moves you can make. When you\u2019re a homeowner, you own something that typically becomes more valuable over time. And as your home\u2019s value appreciates, your net worth grows<\/a>.\u00a0<\/p>\n

So, if you\u2019re financially stable and prepared for the costs and expenses of homeownership, buying a home might make a lot of sense for you.<\/p>\n

Bottom Line<\/h3>\n

Home prices almost always go up over time. That makes buying a home<\/a> a smart move, if you\u2019re ready and able. Connect with a local real estate agent<\/a> to talk about your goals and what\u2019s available in our area.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Going into 2023, there was a lot of talk about a possible recession that would cause the housing market to crash. Some in the media were even forecasting home prices would drop by as much as 10-20%\u2014and that might have made you feel a bit unsure about buying a home. But here\u2019s what actually happened: […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"bgseo_title":"","bgseo_description":"","bgseo_robots_index":"","bgseo_robots_follow":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-9968","post","type-post","status-publish","format-standard","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts\/9968","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9968"}],"version-history":[{"count":0,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts\/9968\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}