Home Ownership Decline

I’m Miriam Neff, and I’m Valerie Neff Hogan, with Wise Women Managing Money.

M In the last year, home ownership has declined. Estimates vary as well as reasons.  Higher mortgage rates remove some from owning a home, or requiring a less expensive one to cover higher rates.

V Rising rental rates increasingly reduces the possibilities for renters to save to buy their first home.  Owning a home is one pillar in transferring wealth from one generation to the next generation. Biblical principles apply. There are 220  references to passing an inheritance to offspring. Proverbs 13:22 says ‘a good person leaves an inheritance for their children’s children, but a sinner’s wealth is stored up for the righteous.‘

M Remember it’s not ours but God’s on loan to steward wisely. God’s blessing to the next generation.