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Are renters being left behind? : homeownership and wealth accumulation in Canadian cities Somerville, Tsur; Qiang, Li; Teller, Paulina; Farrell, Michael; Jones, Derek; Kasahara, Yosh
Abstract
The promotion of homeownership is an important policy of governments around the world. One motivation for this support is the benefits to local communities from the greater neighbourhood involvement of homeowners.1 For individual buyers, an often cited benefit of homeownership is that it is a good way to accumulate wealth. Certainly it is an important element of wealth; the median Canadian household has over 50 percent of their wealth in their home.2 We are interested in just how much homeownership itself contributes to wealth. The greater homeownership’s role in building household wealth, the bigger will be the wealth gap between owners and renters. This paper examines whether by not owning a home, do renters miss a critical opportunity to build wealth: do they miss the great wealth accumulation boat? This draft: January 29, 2007
Item Metadata
Title |
Are renters being left behind? : homeownership and wealth accumulation in Canadian cities
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Creator | |
Contributor | |
Publisher |
University of British Columbia. Centre for Urban Economics and Real Estate
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Date Issued |
2007-02
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Description |
The promotion of homeownership is an important policy of governments around the
world. One motivation for this support is the benefits to local communities from the
greater neighbourhood involvement of homeowners.1 For individual buyers, an often
cited benefit of homeownership is that it is a good way to accumulate wealth. Certainly it
is an important element of wealth; the median Canadian household has over 50 percent of
their wealth in their home.2 We are interested in just how much homeownership itself
contributes to wealth. The greater homeownership’s role in building household wealth,
the bigger will be the wealth gap between owners and renters. This paper examines
whether by not owning a home, do renters miss a critical opportunity to build wealth: do
they miss the great wealth accumulation boat?
This draft: January 29, 2007
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Genre | |
Type | |
Language |
eng
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Date Available |
2017-01-24
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Provider |
Vancouver : University of British Columbia Library
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Rights |
Attribution-NonCommercial-NoDerivs 2.5 Canada
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DOI |
10.14288/1.0052274
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URI | |
Affiliation | |
Peer Review Status |
Unreviewed
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Scholarly Level |
Faculty; Graduate
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Rights URI | |
Aggregated Source Repository |
DSpace
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Item Media
Item Citations and Data
Rights
Attribution-NonCommercial-NoDerivs 2.5 Canada