Home Ownership Reduces Your Chances of Becoming an Entrepreneur, Report Says
Home Ownership Reduces Your Chances of Becoming an Entrepreneur, Report Says
New research out of London suggests that home ownership makes people less likely to start a business, particularly if they are still paying on a mortgage.
The U.S. government has successfully promoted home ownership for decades, with greater than 65 percent of Americans owning. But the Spatial Economics Research Centre study implies that entrepreneurship -- and, as a byproduct, the economy -- suffers as a result. Supporters of home ownership, however, argue that government incentives for buying -- such as the mortgage tax deduction -- have a positive impact, making people more invested in the communities where they live.
Source: "Home Ownership Reduces Your Chances of Becoming an Entrepreneur, Report Says," Huffington Post (06/01/12)
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