Housing Affordability Institute, the 501c(3) founded in 2018 by Housing First Minnesota, has released a new white paper illustrating the enduring value of homeownership at the individual and societal level. The Institute produces industry-leading research and commentary on homeownership and what drives the increasing cost of homeownership and growing affordability challenges. Internationally acclaimed economist and public speaker Elliott Eisenberg, Ph.D. wrote the paper.
“Homeownership has long been a cornerstone of the American Dream,” said Elliot Eisenberg, Ph.D., author of the report. “Homeownership generates wealth, contributes to financial security and builds communities. This report reinforces what we’ve long known — when more people have the opportunity to own a home, everyone benefits.”
“A home is more than just a place to live; it’s a foundation for opportunity and prosperity,” said Nick Erickson, executive director of Housing Affordability Institute. “This new report highlights the value of homeownership and also why policymakers at all levels of government must protect the American Dream.”
Highlights from the paper include:
- Homeownership creates financial security and serves as a safeguard against inflation, as mortgage payments typically remain stable, whereas rents often increase alongside inflation.
- Homeownership builds personal and generational wealth with 31.4% of all household wealth attributable to housing equity.
- Studies have shown that homeownership leads to improved health and educational outcomes.
- New housing is a driver of economic growth for local communities, both during development and beyond.
- Homeownership isn’t just the American Dream; it is intertwined with the American identity.
Download the Full Report here.
Download the Executive Summary here.
