How Homeownership Serves as a Steppingstone to Wealth

Posted by Bonnie Martin Designated Broker on Saturday, December 6th, 2014 at 10:00pm.

housemoney_volff_450realtor.com - A recent editorial in the New York Times focused on homeownership and wealth creation, drawing on research from the Joint Center for Housing Studies at Harvard University and concluding that “as a means to building wealth, there is no practical substitute for homeownership.”

But just why is homeownership so important to building wealth? Here’s what the researchers at Harvard found in their 2013 research, and what it means for you today.

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photo:  ©[Volff]/123RF.COM

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