Does your home really matter?

There is no real freedom without financial security via wealth accumulation. Owning a home is the only practical store of wealth most Hoosiers will ever see.

“[M]onth after month, most of a family’s income disappears. Clothing is worn until it is discarded. Food is eaten. Health care dollars disappear into the accounts of insurance companies and hospital chains. Gas money is burned up by a car that, if purchased, loses value the moment it is driven off the lot. Only housing, representing 35 cents of every dollar spent by the average middle-income family, has the chance to retain, or even increase, in value. Every month, when a homeowner makes a mortgage payment, she basically makes two payments. The first is a tax-deductible check to the bank that covers the interest, and the other is to herself, in the form of additional equity in her home.”

Aaron Glantz, “Homewreckers”

America is moving toward a future where only the rich own real estate — everyone else rents. It’s a depressing picture. But it doesn’t have to happen.

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