Fifteen years ago, Green and White (1997) published a paper in the Journal of Urban Economics that found that children of homeowners were more likely to stay in school and less likely to have children of their own by age 17 than children of renters. We also found that longer tenure mitigates the adverse effect of renting so that children of renters are more likely to stay in school if their families have lived in the same rental unit longer. Thus owning may produce better outcomes for children than renting in part because owners generally move less frequently than renters. Haurin, Parcel, and Haurin (2002) reach a similar conclusion. Other studies, such as those by Aaronson (2000) and Barker and Miller (2009), argue that it is wealth accumulation by families that affects whether their children succeed, rather than whether families own versus rent. A problem in attempting to determine whether parents’ choice of renting versus owning explains their children’s outcomes is the possibility of selection bias. While Green and White (1997) used an instrumental variables approach to correct for selection bias, such models depend on assumptions about appropriate instruments (Green and White instrumented for ownership using the relative cost of owning versus renting) and distribution functions. Aaronson's (2000) and Barker and Miller’s (2009) models ignore the issue by assuming that household wealth is independent of homeownership, yet for most families, home equity is a significant portion of their overall wealth.