March 15, 2010 at March 15, 2010 · Filed under enart.nnxj.comedit
I have heard that owning a home makes a big difference in family
wealth. That people who own homes are richer and their children are
richer than those who rent. Please find 3 citeable primary sources
that support this concept if possible.1. Source: Federal Reserve Board
http://homesightwa.org/benefits%20of%20home%20ownership.htm
Home ownership builds wealth. The median net worth of most
modest-income owners is almost $60,000 compared to less than $10,000
for renters in the same income group. The Federal Reserve Board ?
Survey of Consumer Finance.
http://www.federalreserve.gov/boardDocs/speeches/2001/200111082/default.htm
http://www.federalreserve.gov/pubs/oss/oss2/scfindex.html
2. Source: HUD (US Department of House and Urban Development)
http://www.huduser.org/publications/txt/hdbrf2.txt
"Median net wealth for homeowners exceeds $78,400, while renters
accumulate less than $2,300, or 3 percent of this amount."
3. Source: NATIONAL ASSOCIATION OF REALTORS - National Center for
Real Estate Research, Nov. 2004
http://www.realtor.org/ncrer.nsf/files/Housing%20Wealth%20Effects%20final.pdf/$FILE/Housing%20Wealth%20Effects%20final.pdf
"Among homeowners with under$20,000 in income, three quarters have
more home equity than stock equity. Meanwhile, the median wealth of
these low income owners is 81 times greater than the median wealth of
renters with comparable incomes."
There are several articles at this site that may help as well.
http://www.realtor.org/libweb.nsf/pages/fg302
If you require any additional information please post a request for clarification.
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