Why Homeowners Are Richer Than Renters
by Pat Mertz Esswein, Associate Editor, Kiplinger's Personal Finance
Feb 01, 2018
1 minute
Eli Beracha is an associate professor at Florida InterÂnational University. He is coauthor of "A Revision of the American Dream of Home Ownership" published in the Journal of Housing Research.
Why do homeowners accumulate more wealth, but together they are better than doing nothing. Most renters spend the difference between renting and owning a home on other things. So, for the average American, it's better to own, even with the changes to the tax law (see ).
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