I sat in on a two hour talk with Lawrence Yun the other week, and it was great. One of the things he brought up that really stuck is how directly home ownership can affect a family or individual’s net worth. Here’s an illustration of the results of the government survey he quoted:

In the short term, it may or may not be considerably easier to lease. But, investment in a home can absolutely help out in the long term, as a homeowner pays down the balance and achieves more and more equity. This is one major reason why the federal government offers so many incentives for first time buyers:

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