BUYING OR BUILDING YOUR DREAM HOME IN FIVE YEARS IS LIKE COUNTING 123 WITH JUBILE INVEST PLAN https://bit.ly/37ybrt5
By Emmanuel Kilwana
Buying a house has long been a staple of everyone dream; go to college, get a job, get married, buy a house, and have some kids. Home buying is just one of the things you have to check off the list in order to be considered a grown up. But is home ownership all that it’s been sold to us as?
Housing costs are creating financial stress for a large share of the world’s urban residents. Rents and home prices have risen far faster than incomes in most countries, particularly in big cities where many people want to live and where job opportunities are concentrated. The issue affects everyone from slum residents living on the margins to middle-income households.
For millennials ages 25 to 34, home-ownership is 8 percentage points lower than baby boomers at that age and 8.4 points lower than Generation X.But buying a home has long been considered a good investment. But is it?We can all agree that a good investment is something that makes money for you. Does a house do that? Hopefully, one day.
But between now and one day, your dream home is going to cost you money. So is buying a house a good investment? People say home-ownership is an excellent path to build wealth. I would change that to say rental property ownership is an excellent path to build wealth. The average cost of building a modern 3 bedroom house is 200 millions however getting this lump sum at once is not easy for most people , With Jubile invest financial plan makes it easy for every one to own his dream home through monthly , quarterly , yearly premium payments . Your contributions are further grown through our bonuses . The required monthly premium for 3 bedroom house worthy 200 million is 2,659,400/= for easy enrolment : https://bit.ly/37ybrt5
Globally, cities are major drivers of economic growth, and the quality and location of housing has longterm consequences for inclusive growth. People migrate to cities in search of economic opportunities and cities attract firms and investment because of the concentration of a diverse labor pool. With the productivity gain of agglomeration, urbanization and per capita income growth tend to happen concurrently. For most households, purchasing or building a house is the single largest expenditure they will ever make. A home is also typically the most important household asset and an investment that can appreciate in value over time, be used for collateral for borrowing and be an important component of intergenerational wealth transfer through inheritance. Where housing is located in proximity to schools, jobs and transit access, this directly impacts the quality of urban life and prospects for social mobility (World Bank 2013).
However, in Sub-Saharan Africa, urbanization is not accompanied by the level of per-capita economic growth or housing investment that is observed elsewhere in global trends. Incomes in Sub‐Saharan Africa (SSA) have not kept pace with urbanization, which, in many African countries, has not necessarily been accompanied by industrial growth and the structural transformation as has occurred in other regions. For example, SSA reached 40 percent urban in 2013 with a GDP per capita of $1,018; East Asia and the Pacific reached the same level of urbanization in 1994 at $3,617 per capita, the Middle East and North Africa in 1968 at $1,806 per capita, and Latin America and the Caribbean in 1950 at $1,860 per capita. In some cases in SSA, migration from rural to urban areas has also been driven by “push” factors such as poor yields from agriculture (Barrios et al. 2006). Housing stocks, along with investment and employment in related construction and finance industries, constitute a major component of national economic wealth. The key challenge for African cities, however, has been the comparatively low growth in per‐capita income, which limits the resources that households have to consume or invest in housing. At the same time across the region, the formal channels through which quality housing is produced and financed face major constraints that limit access to a large share of urban households. Hence, the formal housing sector is only a small part of the economy because the construction and finance services have very little effective demand, evidenced by the lack of formal investment in housing across the region. Recent studies have found that in Africa, formal housing investment (in national current accounts data) lags behind urbanization by nine years (Dasgupta et al. 2014). Furthermore, the capital investment in infrastructure needed to handle rapid urbanization typically happens (if at all) after housing has already been built, often informal settlement . According to Report on Stocktaking of the Housing Sector in Sub Saharan Africa was carried out by a team from the World Bank in collaboration with international and local experts across the region. The team was led by Jonas Ingemann Parby (TTL, Urban Specialist) and Nancy Lozano‐Gracia (Co‐TTL, Senior Economist), and included David Ryan Mason (Urban Specialist), Somik V. Lall (Lead Economist), Basab Dasgupta (Economist), and Cheryl Young (Economist)
I am choosing freedom. The freedom to live wherever I want, to do whatever activities I want while the income streams I build up over my working years support all of my expenses in early retirement
But we want to show you that you don’t have to follow the same path that everyone else follows to owning your first house.
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Emmanuel Kilwana - Real estate Expert and financial advisor with Jubile life insurance I love learning everything I can about personal finance and real estate.