Progressive reports that in 2024 it contributed over $7 million to help families achieve homeownership, and this program is an expansion of that effort. (Credit: Petrik/Adobe Stock)
Over the last three decades, the median wealth gap between homeowners and renters has climbed 70%, according to The Urban Institute. This unprecedented indifference has made it difficult for many to go from renting to purchasing their own home, which can impede efforts to build generational wealth.
To counter the wealth gap that holds many back from homeownership, Progressive Insurance has announced the launch of its new initiative, Open the House. The program is not only meant to provide support during the purchasing process, but seeks to empower homeowners to stay in their homes long-term and build wealth through that real estate by providing resources and financial literacy tools.
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
