Jan 4, 2005     Tony Cannon Broker Associate (760)470-2614 E-Mail Tony Cannon Visit Tony's web site Real Estate and the Economy For many people, a home isn't just a roof over their head, but a financial investment as well. Home prices are usually not as volatile as the stock market-though each home may vary according to local market conditions. In recent years, record home sales along with home value appreciation and home equity loans have helped boost North American economies. According to a recent report issued by the National Association of Realtors in the U.S.: * Six out of 10 homeowners have more home equity than stock wealth * The homeownership rate in 2003 was 68%, while only 52% own stocks * Total housing consumption, operations, related goods and investment accounted for about 23% of the U.S. gross domestic product in 2003 In Canada, land and buildings account for approximately one-third of household wealth, according to a study by TD Canada Trust. The bank predicts that home values will continue to rise next year. Many homeowners regard their home as a wise investment that appreciates in price and even provides a system for "automatic" saving through mortgage payments. A homeowner can access the wealth invested in their home through a home equity line of credit or loan. If you can afford it, consider making an extra payment on the principal of your loan to help shorten the time it takes to pay off your mortgage.