This factor may determine whether you get rich. You don't control it.
New research indicates that parental wealth significantly influences homeownership rates among young adults. The study analyzed data from millions of families and found that children of homeowners are more likely to own homes themselves, regardless of their own income levels. This suggests that wealth mobility, rather than just income mobility, plays a crucial role in determining economic opportunities.
- ▪Homeownership is increasingly dependent on parental wealth rather than adult income, especially in high-cost housing markets.
- ▪The median net worth of homeowners was $396,000 in 2022, compared to just $10,400 for renters.
- ▪Geographic differences affect wealth mobility, with poorer children facing more challenges in expensive regions like California and New York.
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MoneyWatch This factor may determine whether you ever build wealth. You have no control over it. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Aimee Picchi Aimee Picchi Associate Managing Editor, MoneyWatch Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports. Read Full Bio Aimee Picchi May 22, 2026 / 12:06 PM EDT / CBS News Add CBS News on Google Homeownership has long been seen as a cornerstone of the American Dream because it reliably builds wealth.
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