The Homeownership Dominant Gene – Key Reasons Why There’s An Increasing Chance Kids Will Own A Home If Their Parents Do!

Home Ownership Dominant Gene - There's Increasing Chance Kids Will Own Home If Their Parents Do!

There are many things that factor into the decision to buy a home. New research from the Urban Institute suggests that one of those things may be inherited from your parents. Hi, I’m Shawna Kurowski with the Desert Charm Living Real Estate Team.

Did you know, children are more likely to own a home if their parents did? According to an analysis of millennial homeowners, the home ownership rate of those whose parents rent their homes, is 14.4% while the rate among millennials whose parents are homeowners is 31.7%. The study also revealed that as a parent’s net worth increases, so does the likelihood that their child will own a home.

These two findings are not surprising as we know from the survey of consumer finances that a homeowner’s net worth is 44 times greater than that of a renter. So a parent who’s a homeowner will have more wealth which will in turn, increase the chances that their children will own a home in their future.

Here’s a breakdown of the relationship between a parent’s wealth and the millennial’s’ likelihood to own a home.

Own A Home - Homeownership Dominant Gene

Interest rates are still at historic lows and now is a great time to secure a mortgage and make the move. If you’re looking for a home, give us a call. It’s worth a look to see if you can buy and how much home you can afford.

We would love to see what we can do to help you own a home. Call or Text us today – 602-529-3380

Have a great day everyone 🙂 Thanks for watching, see you soon.

Let us know what you think as well by subscribing to the Desert Charm Living Real Estate Team YouTube channel and on social media.

Shawna Kurowski
Desert Charm Living Real Estate Team
Call or Text: 602-529-3380

You can follow us at:
Instagram: https://www.instagram.com/desertcharmliving/
Facebook: https://www.facebook.com/desertcharmliving/

Key Mortgage Considerations When Buying a Home in The Northwest Valley, AZ
Key Credit Considerations When Buying A Home in The Northwest Valley, AZ:
Download our FREE Home Buyer’s Guide

Buying a Northwest Valley AZ home should be fun, hassle-free, and a positive experience. We’ll help you sell or buy your perfect Peoria, Glendale or North Phoenix area home, avoid mistakes that could cost you thousands, and save time in the process.

Get Your Free Buyer's Guide For The Northwest Valley Area

Fill out the short form below to get a FREE Home Buyers Guide with key up to date information on what's happening in the housing market, what you need to know before you buy and what to expect when buying a home in the Northwest Valley area.
  • This field is for validation purposes and should be left unchanged.

Leave a Reply

Your email address will not be published. Required fields are marked *