According to a study by the Federal Reserve Survey of Consumer Finances, all other things being equal, "median homeowners had nearly $200,000 in net worth as compared to $5000 for renters."
Sidebar: Yes, we know that many homeowners were under water on their mortgage when the bubble burst in 2009. However, many of these same homeowners that held on for 4 years (yes, until 2013) saw their homes go right back to where they bought at the "height."
A successful landlord once said to me: "Paying a mortgage is like paying rent, except that you own the property and you can sell it for a profit once it appreciates, which it always does over time."
The point is, whether you buy at the height or the bottom, if you hold on to property long enough, chances are, your home will have equity because over time, property values always go up. It's really that simple. I don't know anyone who hasn't thought to themselves, "I wish I had bought back then."
Sidebar: While buying property is one of the oldest, tried and true ways to wealth, you should do it smartly. This means putting 10-20% or more down--which I always advise my buyer clients. This helps provide instant equity.
