Now to be fair, in 2020, home values started to soar on the heels of record-low mortgage rates. But even if we go back to 2010 – a time when the housing market was deep in recovery mode – the median home price was a still-impressive $ 221,800. And when we adjust that figure to 2020 dollars, it’s $ 263,604. That represents a 233% uptick in price growth since 1950.
That’s why buying and holding real estate could be a great wealth-building strategy for you. Granted, right now, home prices are extremely elevated. But if you wait a year or two, they might come down. And once that happens, scooping up income properties and hanging on to them for many years could be a wise bet.
Patience can pay off
If your goal as a real estate investor is to get rich quickly, then income properties may not be the best approach. But just as the buy and hold strategy has long worked out well for stock market investors, so too can it make you very wealthy in time in the realm of real estate.
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