The Greater Lakes Association of REALTORS is teaming up with the Natioanl Association of REALTORS to give local residents the facts about homeownership. Would-be homeowners who are unertain about their home buying plans can learn more about the options available to them and the long -term benefits of owning a home. “Building Wealth“ emphasizes the importance of homeownership in creating long-term wealth. Using data from respected third-party sources, the materials demonstrate the effect that homeownership has on household wealth.Over the past 30 years, the median price of existing homes has increased an average of more than 6 percent every year, and home values nearly double every 10 years, according to historical data from NAR’s existing-sales series. A Federal Reserve study has shown that the average homewowner’s net worth is 46 times the net worth of the average renter. Despite this and other research, some potential home buyers are being kept on the sidelines as the reach to national media reorts about the housing market.All real estate markets are local, and buyers and sellers who think about making a move should consult a REALTOR in their local market to learn about conditions specific to the area. It’s also advisable to look beyond the immediate horizon – real estate has proven itself to be a good long-term investment and a safe, secure way to build long – term wealth.