Here's a number that we should be talking about with our spheres of influence, our friends, our social media audiences:
And this is 15.9.
Now what's 15.9 represent?
15.9% is the amount that the average renter had as an increase in the rent last year.
And it's likely that this is gonna have again this year or some similar high number, and probably the year after that.
It's supply and demand. There is high demand and low supply. So it's the same thing that's happening to us in the real estate industry, right? We have low supply, high demand causes prices to rise.
So if renters aren't careful what can happen is if rents continue to rise, they could have rent that's increasing by 10%, a year or more over the next 2, 3, 4, 5 years. They could easily be paying 30, 40, 50% more for rent in a few years.
And they think their rent's high now. Wait another couple years, it's gonna get higher.
So what can they do? What's the solution?
The solution is to take a look at being a home owner rather than a renter.
Guess what happens as a homeowner? You have a level payment. That's the beauty of it, right? You plug into the market, you step on the escalator and you're at a level payment. Yes, interest rates have gone up compared to last year. But compared to last several decades, interest rates are still super, super low. I mean, they are still relatively speaking, low rates.
So when we look at this, they step on the escalator. Now they've got a level payment for 30 years. They don't have to worry about a rental owner raising their rent again, year after year after year after year. Plus they're building equity in an asset they own.
The number one way Americans build wealth in America is through home ownership. So let's educate. Let's do some educational marketing around the fact that the best thing that renters can do is become homeowners. Let's plug him into a path to get there.
Some of your renters won't be able to qualify today. That's okay. What we're gonna do is have a great partnership with the lender in your community. And we're gonna say, "Hey, even if you're not ready today, let's get you a roadmap. So you can be ready six months a year from now."
You wanna earn raving fans and people that come back to you year after year and send you referrals? That's the way you do it. You get people, a roadmap, they follow the map. They become homeowners. They will love you for life. Trust me. And all their family and friends will wanna follow their lead.
This is the solution guys. This is what we should be working on really, really hard and step into something called educational marketing. This is where you're just talking to audiences about these kinds of things. And you're educating people, right? You're giving people tools and resources to help them help themselves. That's the key that's really unlocking super success in this industry. You know, when you help other people, they help you. It's natural.
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