Homeownership in a Bubble: The Fast Path to Poverty
Publication Date: August 2003
Publisher: Center for Economic and Policy Research
Author(s): Dean Baker; Simone Baribeau
Research Area: Social conditions
Keywords: Housing assistance; Tax code; Home price appreciation
Type: Report
Coverage: United States
Abstract:
Homeownership has long been seen as a path into the middle class. However, this paper shows that the current housing bubble has also affected moderate income areas. As a result, the decision to buy a home could leave many moderate-income households worse off.
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