I'm a millennial real-estate agent here to tell you that long-term homeownership is not the best way to build wealth. Here's why.
This as-told-to essay is based on a conversation with David Ravitz, 31, a millennial real-estate agent who isThe conversation has been edited for length and clarity.
People moving around means the American dream of homeownership is changing, and that's not necessarily a bad thing.I was in finance for a number of years. I went back to school and got my MBA at the University of Miami, and then jumped into real estate. I'm going on four years now as a real estate agent in South Florida. Everyday, I look at, and buy and sell houses on behalf of my clients. So, I'm in tune with the market and have a keen perspective on what's going on in housing.
At first, we thought we would renovate the home and live there for at least four years before selling. However, given the strength of the area's market, our mentality shifted.
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