The term “generational wealth” might conjure images of rich folk lounging on yachts, hopping and skipping among homes in exotic locations, or sporting fancy watches and handbags.

It can, indeed, be that.

But at its core, generational wealth is simple: It’s assets that a family can pass from one generation to the next. For many Americans, generational wealth is a home. That is why a home of one’s own is the foundation of financial stability. And that is why affordable housing is the trampoline that can spring families into financial security.

As simple a concept as it is, generational wealth is far from a reality for many people. For instance, the average Black family holds 24 cents in wealth — that is, savings, retirement accounts, real estate holdings, etc. — for every $1 held by white families, according to a 2023 wealth inequality report from the Federal Reserve Bank of St. Louis.

There are ways to correct this inequality for all Americans. Here are three ideas.

Build affordable housing. At Habitat for Humanity, “affordable” means a mortgage that is no more than 30 percent of a family’s adjusted gross income. This means the family can afford to buy the house and afford to live in it – that is, keep up with repairs, maintenance, homeowner’s insurance, and other expenses.

Establish equal access to affordable education. This means placing value on degrees from two-year colleges, promoting the trades as a great way to earn a good living, and setting aside the notion that only a four-year college degree is worth anything in the job marketplace.

Update the credit reporting system. Paying rent and utility bills on time should count toward a person’s credit score; right now, they mostly do not. This old-fashioned system unfairly hobbles people who are working hard to establish a financial foundation for their families.

Generational wealth doesn’t have to be a Rolex on the wrist or a “White Lotus” vacation or a place in the Bahamas. All it needs to be is a home for a family to call home, from generation to generation. Supporting affordable housing in the community is a solid place to start.

Earth Day was launched in 1970 by Gaylord Nelson, U.S. senator from Wisconsin. The first Earth Day drew an estimated 20 million people in gatherings across the country; it’s since grown into a day that encourages people to protect the environment with three simple steps.

Reduce what you buy and consume. Reuse what you can. Recycle whenever possible.

We’ll add a fourth to the list: ReStore, as in Habitat for Humanity Lakeside’s ReStore. Donating to ReStore keeps items out of the landfill. Buying at ReStore enables shoppers to reuse and give new life to formerly loved objects. Buying at ReStore (all local shopping, in fact) can reduce the carbon footprint and packaging waste of online shopping.

ReStore is a fun place to shop. It’s filled with all sorts of furniture, from sofas and loveseats and dining-room sets to shelving, desks, occasional seating, side tables, lamps, and lighting fixtures. Need home improvement items? ReStore has tools, nuts, bolts, plumbing supplies, paint, and even an array of doors. If you’re in the market for a household-related item, odds are good the ReStore has it. If you need household inspiration, try ReStore.

Moving this spring, or downsizing, or otherwise offloading items you can’t use anymore? Call ReStore to donate! We take almost anything (a list on our website indicates what’s acceptable and what is not) that’s in good, usable condition. We’ll pick it up, too.

All ReStore sales support Habitat for Humanity Lakeside’s programs in Sheboygan. Building affordable homes for families and supporting them in their homebuying and homeownership journeys. Reasonably priced home repairs and, soon to come, aging-in-place adjustments (ramps, bathroom grab bars) to help Sheboygan County’s older adults stay in their homes as long as they can.

Here's what to expect when you visit ReStore: Lots to look at. A collection of vintage and contemporary furniture. Household items and decorative items galore. Kitchen cabinets. Bathroom sinks and vanities. Toilets and plumbing goods.

ReStore is open Wednesday through Friday, 10 a.m. to 6 p.m. and Saturday from 10 a.m. to 6 p.m. Even if you’re not in the market for a good deal on a great item, stop by sometime. We’d love to see you. 

April is Fair Housing Month, commemorating passage of the Fair Housing Act of 1968, which forbids discrimination based on age, color, race, and other factors when renting, selling, or financing a house.
At Habitat for Humanity, April is Home is the Key month, a time to recognize the power of affordable housing to transform families and communities.

One event celebrates “housing,” and the other, ‘home.” So, we need to ask:  What’s the difference? Do you need a house to make a home? Are “house” and “home” the same thing? Does it even matter?

To start, “home” and “house” have become synonymous, but in a way they’re not, just as “body” and “soul” are not synonymous. A house is a physical object that contains a home, just like a body contains a soul. And it is possible to make a home without a house because home is, if you think about it, a state of mind. Home is sanctuary. It’s a place to prepare to interact with the world and to recover from those interactions, to celebrate life’s joys and mourn its sorrows. It’s a soft place to fall and to make memories with families and friends. It’s a place to make your own, with plants outside and personal touches inside. It where family is, regardless of the physical location.

The soul yearns for home, not house – just ask Dorothy where she wanted those ruby slippers to take her.

While “home” can be anywhere, there’s no denying the power of the physical structure called a house. To start, that structure provides stability and a fixed place for family to be together and to enjoy the comforts of that thing called home. A house provides a financial foundation for a family. A house can be the physical expression of a home, through gardening, decorative touches, and the collection of home-made pictures and photos on the refrigerator door.

Both “home” and “house” underpin successful families and communities. Here in Sheboygan, we need to offer the promise of “house” and “home” to more of our fellow citizens. In Sheboygan, the median household income of $62,000 falls far short of the $82,000 median income needed to buy a modest home in Wisconsin. In Wisconsin, one in eight families spends more than half its gross income on housing. That’s not sustainable and it’s not acceptable.
​
Habitat for Humanity Lakeside plans to build more houses over the years, as detailed in our Strategic Plan posted on this website. Donations of money and items for our ReStore always help, but now our immediate need is for volunteers for the committees crucial to help fulfilling our strategic plan. Please, if you are skilled professional in the Sheboygan area, come and talk to us. There are few things more satisfying than watching an empty lot become a house occupied by a family who’s making that house a home. Come see for yourself.  

Happy April to everyone in Sheboygan County. We are just back from Habitat for Humanity’s Midwest Regional Conference in Rochester, Minnesota. More than 300 Habitat for Humanity staffers gathered to learn more about and share ideas for boosting affordable housing and the quality of life for all residents in cities and towns dotting the Midwest.

The biggest takeaway? Affordable housing, which means a family should spend no more than 30 percent of their income on rent or a mortgage, is an issue everywhere.

Why does it matter? Affordable housing means stability for families, especially children, who thrive when the adults in the home don’t need to change residences every year or two because of financial reasons. Affordable housing gives families a foundation for generational wealth, which comprises assets that can transfer from generation to generation. Affordable housing allows neighborhoods and cities to flourish.

Habitat for Humanity Lakeside’s strategic plan calls for building more houses in Sheboygan County over the next few years. We’re also launching programs to help residents improve their homes to enable aging in place.
​
You can help by donating to our ReStore, volunteering, chipping in financially, and by showing up as a concerned and caring neighbor in your community. Our mission: We seek to put God’s love in action by bringing people together to build homes, communities, and hope. And we can’t do it without you.