Homeownership doesn't just provide people a place to live. It also enables them to accumulate wealth by saving more and building equity in their homes. Homeowners move less frequently and are more likely than renters to invest in the upkeep of their homes and local amenities. They may also be more involved in their communities. Family and school stability helps homeowners' children build long-term relationships with teachers and fellow students. The result is often a positive influence on their academic performance and future job opportunities. ; These potential financial and social benefits make homeownership especially appealing to low- and moderate-income families and individuals. Few other wealth-building alternatives allow investment in large assets on such a leveraged basis and generate the same long-term benefits. However, low incomes and lack of funds for a down payment are major obstacles for low- and moderate- income households to transition from renters to homeowners. Making home financing affordable by addressing these financial constraints has been a public policy priority.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.