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The wealth gap between homeowners and renters is huge, a new report says

The article from Marketplace discusses a recent report highlighting the significant wealth gap between homeowners and renters in the United States. According to the report, the median net worth of homeowners is substantially higher than that of renters, with the disparity growing over time. This gap is attributed to several factors including the appreciation of home values, tax benefits associated with homeownership, and the forced savings mechanism of paying off a mortgage. The report also notes that this wealth divide exacerbates economic inequality, as homeownership has become increasingly out of reach for many due to rising housing costs, stagnant wages, and systemic barriers to entry. Efforts to address this issue include policy recommendations aimed at increasing affordable housing options, providing down payment assistance, and reforming tax policies to make homeownership more accessible to lower and middle-income families.

Read the Full Marketplace Article at [ https://www.marketplace.org/2024/11/27/wealth-gap-between-homeowners-and-renters-is-huge-a-new-report-says/ ]