Publication Date:
December 15, 2003
W03-8: This paper explores the importance of housing wealth in three ways. First, it looks at housing wealth as a share of household net wealth. Figures from 2001 reveal that housing is central to household wealth even though over-estimation of stock wealth by the SCF in that year understates housing’s actual contribution. Second, it examines how housing wealth has helped temper the disparity in household wealth between rich and poor Americans. Third, it discusses the recent performance of the housing market and its role in stabilizing household wealth during the 2001 recession and stock market decline…
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