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Citizen Wealth by Wade Rathke

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19

2Home Ownership Through Community Reinvestment

For lower-income families, the question of whether or not they hold any citizen wealth at all often begins and ends at the front door.

Among low-income homeowners with household incomes pegged at less than $20,000 per year, 72 percent of their wealth derives from home equity. For lower-income families with incomes between $20,000 and $50,000 per year, home equity accounts for 55 percent of total wealth.1 For those who rent, the “median wealth of a low-income family is one-twelfth of that of a low-income homeowner.”2

That divide is huge, making home ownership for lower-income families a critical builder of citizen wealth, and making home retention against the threats of foreclosure an essential ...

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