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Old 06-27-2018, 05:55 PM
 
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Things I learned from National Homeownership Month:

Children of homeowners are 25% more likely to graduate from high school than children of renters of the same age, race, and income.

Children of homeowners are 116% more likely to graduate from college than children of renters of the same afe, race, and income.

Children of homeowners have 9% better math scores and 7% better reading scores than children of renters of the same age, race, and income.

And the average homeowner's net worth is 35 times the net worth of the average renter. (I think they meant median rather than average, but don't know that for sure.)
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Old 06-27-2018, 05:56 PM
 
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Cool, gives many people something to aspire to!
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Old 06-27-2018, 06:04 PM
 
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Originally Posted by elhelmete View Post
Cool, gives many people something to aspire to!

I suggest that perhaps there is something about renting that hinders wealth-building, and maybe we should identify and fix it.
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Old 06-27-2018, 06:12 PM
 
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This is a joke. The main reason for not buying a home and renting would be because you don't have the means to buy a home. It boils down to people with more wealth have kids that do better in school and they have more wealth than people with less wealth.
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Old 06-27-2018, 06:21 PM
 
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Originally Posted by freemkt View Post
I suggest that perhaps there is something about renting that hinders wealth-building, and maybe we should identify and fix it.
You'd be wrong.
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Old 06-27-2018, 06:22 PM
 
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Originally Posted by bobspez View Post
This is a joke. The main reason for not buying a home and renting would be because you don't have the means to buy a home. It boils down to people with more wealth have kids that do better in school and they have more wealth than people with less wealth.

Then making home ownership scalable would enable people of lower wealth to own lower homes.

Seems fair to me. I never said everyone was entitled to a UMC house.
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Old 06-27-2018, 06:22 PM
 
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Originally Posted by bobspez View Post
This is a joke. The main reason for not buying a home and renting would be because you don't have the means to buy a home. It boils down to people with more wealth have kids that do better in school and they have more wealth than people with less wealth.
Yes, this exactly. Correlation vs. causation.
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Old 06-27-2018, 06:24 PM
 
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Originally Posted by elhelmete View Post
You'd be wrong.

Why do you say that? Immunity to rent inflation, plus capturing all appreciation, plus equity through principal reduction are three obvious relevant factors.
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Old 06-27-2018, 06:25 PM
 
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They'd still be poor. It's not owning a home that makes you richer, it's the money to own a home that makes you richer. Otherwise, people living in luxury apartments or renting mansions would have less wealth than people living in small houses.
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Originally Posted by freemkt View Post
Then making home ownership scalable would enable people of lower wealth to own lower homes.

Seems fair to me. I never said everyone was entitled to a UMC house.
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Old 06-27-2018, 06:31 PM
 
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Originally Posted by elhelmete View Post
Yes, this exactly. Correlation vs. causation.

Did you actually read the post? Children of homeowners do better than children of renters OF THE SAME AGE, RACE, AND INCOME.

Are you saying there is some magical effect of wealth that doesn't exist for income?
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