Page "Inheritance" Paragraph 25

The degree to which economic status and inheritance is transmitted across generations determines one's life chances in society.

Although many have linked one's social origins and educational attainment to life chances and opportunities, education cannot serve as the most influential predictor of economic mobility.

In fact, children of well-off parents generally receive better schooling and benefit from material, cultural, and genetic inheritances.

Likewise, schooling attainment is often persistent across generations and families with higher amounts of inheritance are able to acquire and transmit higher amounts of human capital.

Lower amounts of human capital and inheritance can perpetuate inequality in the housing market and higher education.

Research reveals that inheritance plays an important role in the accumulation of housing wealth.

Those who receive an inheritance are more likely to own a home than those who do not regardless of the size of the inheritance.