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HomePolicy Articles Article Summary

Building Assets Through Housing

Discussion Paper by Michael Mendelson

In many Canadian cities, middle-class homeowners are sitting on greater wealth than would have been the case than by simply saving. Rising housing prices are the reason for their increase in affluence. Michael Mendelson says that a perception exists that owning a home is the key to achieving wealth. In his paper, Mendelson discusses whether this perception is true, and, if so, whether or not lower-income families can ‘cash in.’

Mendelson explores whether home ownership is a feasible way for low-income earners to increase their savings. He also outlines current initiatives aimed at helping low-income Canadians purchase a home and assesses the effectiveness of these initiatives in boosting savings.

In his paper, Mendelson reviews historical and economic trends regarding home prices and the financial impact of buying a home. Housing as an investment is also discussed. Results from a financial model developed to assess home buying as a financial investment are also presented. The author concludes with some general observations. The Canadian Housing and Renewal Association co-sponsored this initiative.

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Policy Publication Details

Author(s): Michael Mendelson;
Publisher: Caledon Institute of Social Policy [ Visit Website ]
Year Published: 2006; Publisher Type: Research Institute
Publicly Available: Yes Research Focus: National;
Registration Required: No Language: English
Payment Required: No Publication Format: Adobe PDF

Subjects / Categories:

Policy Articles / Welfare & Social Issues / Housing
Policy Articles / Welfare & Social Issues
Policy Articles / Welfare & Social Issues / Housing / 2006

Keywords / Tags:

Canada; middle-class homeowners; rising housing prices; lower-income families; homebuyers; savings; Canadian Housing and Renewal Association; low-income earners;