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- Title
The Effectiveness of Homeownership in Building Household Wealth.
- Authors
Rappaport, Jordan
- Abstract
The article focuses on the role of homeownership on the economic condition in the U.S. It states that the investment on housing provides a share of the gross domestic product (GDP), which accounts to eight percent as well as drives the business cycle. It mentions the use of an analytical framework to compare the wealth build by owning and renting under a 10-year occupancy during 1970-1999, which shows that owning builds wealth from the savings invested on the identical house.
- Subjects
UNITED States; HOME ownership; BUSINESS cycles; GROSS domestic product; INVESTMENTS; UNITED States economy
- Publication
Economic Review (01612387), 2010, Vol 95, Issue 4, p35
- ISSN
0161-2387
- Publication type
Article