Supporting Philadelphia’s Black Homeowners in the Aftermath of the COVID-19 Crisis
Abstract: Homeownership remains an important means of building wealth in the United States.2 Purchasing a home early in adulthood can also lead to a virtuous cycle of accumulation by enabling homeowners to borrow against the value of their home to finance investments in higher education, entrepreneurship, and additional asset acquisition that, in turn, can boost lifetime earnings and capital gains.
Provider: Federal Reserve Bank of Philadelphia
Part of Series: Consumer Finance Institute Research Briefs and Special Reports
Publication Date: 2021-10-28