Word: homeownership
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Dates: during 2000-2009
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...Homeownership has long been heralded as better for children. Kids raised in owned - as opposed to rented - homes show higher math and reading scores and less tendency to drop out of high school. In recent years, organizations from the National Association of Realtors to the President's Council of Economic Advisers to Habitat for Humanity have made sure to mention those sorts of findings in efforts to push more people to own houses...
...maybe the argument is flawed. New research by David Barker of the University of Iowa and Eric Miller of the Congressional Budget Office indicates that homeownership actually has little to no effect on how kids do in school. Their paper, "Homeownership and Child Welfare," which appears in the summer issue of Real Estate Economics, is drumming up interest in housing-policy circles for calling into question one of the basic rationales for encouraging people to own homes. It's yet another idea - like house prices always go up, and down payments aren't that important - being re-evaluated...
...been there so long," says Andre Williams, a Harvard-educated real estate attorney and Miami Gardens city councilman, pointing at one of the houses and shaking his head at the state of the solid middle-class, African-American community he grew up in. "We had a 70% homeownership rate in this city. We took a lot of pride in that...
What about the battered housing sector? Has Obama done enough to help this sector? It was the government's program to promote homeownership that permitted all of the excesses that occurred over the years. People who should never have had a mortgage were induced to buy a home when they couldn't pay for it. And as a result, those are the ones whose homes are being foreclosed, and the whole economy is affected...
During the final week of May, four HBS students will head to Minneapolis to meet with leaders of the Homeownership Preservation Foundation, a nonprofit organization that provides counseling to those who may be faced with foreclosure. The group will work with leaders of the foundation, which currently has a small staff, to analyze its operations and to create a low-budget marketing plan aimed at removing the stigma of foreclosure...