June was Homeownership Month, so we thought it was a good time to deliver some housing stats to give you a better idea of how homeownership looks in 2019.
While owning a house is still more expensive, even with rent prices rising, in every state the price-to-rent ratio varies significantly. That means owning a home is a compelling idea since rent prices are rising faster than home prices. As your customers or members build equity, they are gaining an asset that can anchor your financial future.
Given the trend in mortgage rates, this is becoming a great time to buy a house. But don’t wait for them to come to you. This is a great time to remind your customers that using your PFM can be a great way to get their financial house in order, so the real thing is easier to obtain. Your PFM has all the tools they need to set budgets, set goals and savings targets.
Also, what’s even more helpful is the fact that their PFM can help them get a clear picture of their cash flow. Most individuals don’t understand how their cashflow picture figures into their house buying plans. And syncing all their accounts - bills, mortgages, retirement plans, etc - with their PFM makes their financial much simpler and clear.
What’s more, syncing their accounts also helps them keep their accounts secure. Your PFM can help them set alerts on spending, so anyone trying to access their accounts can be caught quickly - a win for your customers and a win for you!
Show your customers that you’re there to help them prepare for homeownership and when they’re ready, you have the products that they want and expect.