Affordable Housing Stat #12

• Owning a home, especially for lower-income households, is an important means of wealth accumulation. For low-income minority families, median average annual housing wealth appreciation is $1,712 whereas there is no non-housing wealth accumulation. This wealth is achieved both through equity and forced savings resulting from mortgage repayment. (Boehm and Schlottmann: 2004)
• Homeownership increases intergenerational wealth accumulation through improved educational achievement in children, which leads to greater earnings when these children enter the workforce. (Boehm and Schlottmann: 2002)