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An article in the Keeping Current Matters blog cites two recent studies that show that homeowners 65 and older accumulated greater wealth if they bought their home instead of renting.
“Homeowners Aged 65+ Have 48x More Net Worth Than Renters,” offers the latest survey data from the Federal Reserve and the Joint Center for Housing Studies at Harvard University. The Federal Reserve survey, from 2013-2016, compares the median net worth of homeowners and renters and shows homeowners amassed 44 times more net worth than renters. The Harvard survey showed homeowners aged 65 and older garnered 47.5 times greater net worth than renters.
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