White paper details how homeownership benefits individuals, communities and society at large.
St. Paul, Minn. – Housing Affordability Institute, a housing policy think tank, released a new white paper today, Homeownership’s Enduring Value. The report, written by housing economist Elliot Eisenberg, Ph.D., outlines the benefits of homeownership at the individual level and the immense value of homeownership on society.
“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.”
White Paper Highlights:
- 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 Executive Summary
About Housing Affordability Institute
Housing Affordability Institute is a 501c(3) think tank seeking to increase housing affordability and access while advancing homeownership opportunities for all. Housing Affordability Institute produces industry-leading research and commentary on homeownership and the cost drivers behind our growing affordability challenges.
About Elliot Eisenberg
Elliot Eisenberg, Ph.D., is an internationally acclaimed economist and public speaker specializing in making economics fun, relevant and educational. He earned a B.A. in economics with first-class honors from McGill University in Montreal, as well as a Master’s and Ph.D. in public administration from Syracuse University. Eisenberg is the creator of the multifamily stock index (the first nationally recognized index to track the total return of public firms principally involved in the ownership and management of apartments), the author of more than one hundred articles, and is a regular consultant to several large real estate professional associations, hedge funds and investment advisory groups. He has spoken to hundreds of business groups and associations as a keynote speaker. Dr. Eisenberg has been invited to testify before lawmakers and is often asked to comment on proposed legislation. His research and opinions have been featured in Bloomberg, Business Week, Bureau of National Affairs, Forbes, Fortune, and many other publications. He is a regularly featured guest on cable news programs, talk and public radio.