How Housing Fares On The Ladder Of Opportunity

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April 7, 2016 by Jeff Lowen

How Housing Matters is a joint project of the Urban Land Institute and the MacArthur Foundation. It is “an online resource for the most rigorous research and practical information on how a quality, stable, affordable home in a vibrant community contributes to individual and community success”.

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A recent story they published, The First Rung on the Ladder to Economic Opportunity Is Housing, discussed the importance of having affordable housing available to as many families as possible because:

“The ladder to economic success can stretch only so high without the asset-building power of homeownership.

Home equity provides Americans with the ability to send their children to college with less student loan debt and is the primary source of funds for retirement. Half of the assets of Americans over age 55 are in their home.”

 

Bottom Line

You often hear (and we’ve posted, too…) that the net worth of a family owning a home is 45 times greater than that of a family that rents. That is not a coincidence. In addition, there are options available to you to increase your net worth if you’re a homeowner and join the ranks of happy homeowners if you don’t own a home yet. Wanna find out more? Reach out to us!

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