Children who live in owner-occupied homes tend to have babies and drop out of high school at a lower rate than those who reside in rental housing, say the results of a new study by three California professors. The research — sponsored by the Research Institute for Housing America, an independent arm of the Mortgage Bankers Association — also finds that the size of the down payment has little impact on outcomes for children. The exception is for zero-down purchases — in which case outcomes are the same as those for children living in rented property. “Does buying a home make you a better person?” asks Richard K. Green, director of the University of Southern California’s Lusk Center for Real Estate and one of the three professors behind the study. “No, but the discipline associated with saving for even a small downpayment [sic] and subsequently managing a house is, on average, associated with the discipline needed to promote better outcomes for children.” | Read More