3 ms·
The article makes some very odd conclusions. Of course the wealth of homeowners will generally be higher than renters. The only plausible conclusion to draw fro
by jmathai 12y ago
The article makes some very odd conclusions. Of course the wealth of homeowners will generally be higher than renters. The only plausible conclusion to draw from that is people in most of the U.S. Will buy a house once they can afford it (and sometimes when they can't).
The majority of people renting do so because they don't qualify for a loan (or as the article suggests) can't save money for a down payment. They don't own a home because they're less wealthy. They're not more wealthy because they didn't decide to purchase a home.
The article just read like a fluff piece. I think that a home as a mechanism for "forced" savings does make a lot of sense. But it's by no means a first resort. I think people are better off looking at purchasing a home as they do other large ticket items and not as an investment.