00:00Many seem to think homebuying is the path to wealth.
00:0350% of recent homebuyers actually, according to a National Association of Realtors survey.
00:09Half of the 5,000 recent homebuyers surveyed said,
00:13owning a home is a better investment than buying stocks.
00:16Creative Planning's Peter Malouk tells CNBC that buying a home can be a terrible investment.
00:21Quote, you're paying property taxes, you're paying maintenance, you're paying insurance.
00:25There are all of these other things that happen with your home that you've got to pay for, unquote, Malouk
00:30says.
00:31As Money Talks News reports, historically, stock returns have been more generous than those associated with home ownership.
00:38A study by real estate economist Ken Johnson says,
00:41renters can build wealth if they reinvest savings in stocks and bonds, because those gains exceed property appreciation gains.
00:48However, wealth manager David Bach tells CNBC, quote,
00:51buying a home is the escalator to wealth in America, unquote,
00:55and may help you retire early if you pay off your mortgage.
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