Economic Program | Idea Brief

Buying and Owning a Home

by Cristy Gallagher, Jim Kessler and Tess Stovall

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Purchasing and owning a home is a true benchmark of middle-class success and has always been the embodiment of the American Dream. But when the bottom dropped out of the housing market, many middle-class families saw a
staggering loss in their home equity, and some have even lost their homes to foreclosure. Even as first-time buyers come back into the market, they are finding it more difficult to secure the financing they need to buy a home. Buying and maintaining a home is not as easy as it used to be.

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