The Dollars and Sense collective talks sense about the value of home ownership.
Johns Hopkins University researchers Joe Harkness and Sandra Newman looked at whether homeownership benefits kids even in distressed neighborhoods. Their study concluded that "[h]omeownership in almost any neighborhood is found to benefit children. ... Children of most low-income renters would be better served by programs that help their families become homeowners in their current neighborhoods instead of helping them move to better neighborhoods while remaining renters." (Harkness and Newman also found, however, that the positive effects of homeownership on children are weaker in unstable low-income neighborhoods. Moreover, the study cannot distinguish whether homeownership leads to positive behaviors or whether owners were already predisposed to these behaviors.)
The research also does not negate the claim that providing people with middle-class trappings, such as owned houses and college degrees, does not produce middle-class outcomes in the absence of such middle-class habits as deferred gratification and perseverance.

Even the expected Dollars and Sense identification of base capitalist motives hedges.
Low-income families can run into a range of pitfalls when they buy homes. These pitfalls may stem from the kinds of houses they can afford to buy (often in poor condition, with high maintenance costs); the neighborhoods they can afford to buy in (often economically distressed); the financing they can get (often carrying high interest rates, high fees, and risky gimmicks); and the jobs they work at (often unstable). Taken together, these factors can make buying a home a far riskier proposition for low-income families than it is for middle- and upper-income households.

Most low-income families only have the financial resources to buy rundown houses in distressed neighborhoods marked by few jobs, high crime rates, a dearth of services, and poor schools. Few middle-class homebuyers would hitch themselves to 30-year mortgages in these kinds of communities; poor families, too, have an interest in making the home-buying commitment in safe neighborhoods with good schools.
Perhaps, though, there's a simple strategy for increasing asset value: stop behaving like the stereotypical member of the underclass, and work with your neighbors and the police to root out the people who insist on continuing to behave badly.

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