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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.)
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.
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.
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.
Why do you say that? Immunity to rent inflation, plus capturing all appreciation, plus equity through principal reduction are three obvious relevant factors.
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.
Quote:
Originally Posted by freemkt
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.
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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