By providing equity accumulation and tax benefits over time, home ownership is how many families begin to build their wealth. According to statistics from the Federal Reserve Board, a homeowner's net worth is 46 times that of a renter.
It is also important to point out the value of purchasing a home in Northeast Florida. Earlier this year, the Northeast Florida Association of Realtors introduced its "Put Your Money Where Your Life Is" campaign.
One of our strongest findings - in addition to the fact that economists believe that the tide will turn in 2009 - is that Jacksonville-area real estate is a safe bet because of the area's strong economic outlook, which is expected to positively impact the housing market rebound.
"The area is faring better than most other parts of Florida because housing did not get as insanely overbuilt or overbought as it did elsewhere in the state," said Mark Vitner, Wachovia Corp.'s senior economist.
"Jacksonville remains the most affordable large metropolitan area in the state and is cost-competitive with other major metro areas in the southeast.
"As a result, more companies looking to do business in Florida are leaning toward Jacksonville."
Jacksonville is popular for many other reason as well...
