The Impact of Housing Choice on Future Household Wealth
DOI:
https://doi.org/10.61190/fsr.v12i2.4761Abstract
Is owning a home the correct housing choice for the average household, and, if so, how can we know‘! In North America, about two-thirds of households own their homes, and this figure is increasing after a period of decline. This paper provides a financial model that can be used to comprehensively analyze the impact the rent/buy decision has on wealth. The results of two case studies suggest that the financial impact of homeownership may not be as positive as peceived by the average North American household. The model can be easily adapted by users to reflect different assumptions.
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