LAUDERHILL, Fla.
– For many Caribbean families who settled in South Florida, a house was never just a place to live. It was a foothold. A home to raise children in, a base for the next generation, and something to pass down the way land and property have been handed down across the islands for generations. That instinct is sound, and the numbers behind it are worth understanding.
Homeownership remains one of the most dependable engines of household wealth in the United States. According to the National Association of Realtors, drawing on Federal Reserve survey data, the typical American homeowner holds a net worth of roughly $430,000, while the typical renter sits closer to $10,000. That gap is not simply a matter of who happens to buy homes. It reflects a basic mechanic. Every mortgage payment builds equity in an asset that tends to appreciate, while rent buys shelter and returns nothing. For a community that prizes family, legacy, and building something that lasts, that mechanic deserves a close look…