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Home is where the bank is, maybe not in the way it was when homeowners were cashing out equity to buy vastly overpriced sneakers and BMW SUVs, but in a more financially responsible way. Mortgage Professional America reports:

Primary residences remain important to long term financial security and continue to be the largest asset of most US households.

They account for a quarter of all household wealth according to the Board of Governors of the Federal Reserve System’s Survey of Consumer Finances.

The figures have been hailed by the National Association of Home Builders as National Homeownership Month begins.

"Homeownership is a primary source of net worth for many Americans, and is an important step in accumulating personal financial assets over the long term," said Randy Noel, chairman of the National Association of Home Builders (NAHB) and a custom home builder from LaPlace, La.

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