Bank On Home

Learn the lessons from bank failures and maintain your asset- your home. Dan Smith of Realtor Magazine writes, "The high-profile failures of Silicon Valley Bank and First Republic Bank are an object lesson on the importance of managing one's assets. Bloomberg reported that 97% of SVB's deposits were uninsured because they were above the $250,000 limit which the FDIC insures. That fact should be a wake-up call for homeowners, who have seen the median price of homes increase 110% over the past decade, according to NAR data. Homeownership represents a significant investment of time and money and the biggest asset many people own. And just like bank owners and their depositors, homeowners must manage their assets strategically to ensure long-term sustainability."