Adjusted for inflation, US home prices are still lower than in 2006 For most US households, the home they own is their biggest financial asset. After the housing bust of 2007, when collectively about $7 trillion in home value was…
In yesterday’s post, we described why homeownership is such a risky financial proposition for low income households, who tend to be disproportionately people of color. From a wealth-building standpoint, lower income households tend to buy homes at the wrong time, in…
It’s an article of faith in some quarters—well, most quarters—that in the United States, owning a home ought to be a surefire way to build wealth. Whether it’s presidents, anti-poverty groups, foundations, or realtors, we’re always being told that that…