This factor may determine whether you get rich. You don't control it.

MoneyWatch This factor may determine whether you ever build wealth. You have no control over it. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Aimee Picchi Aimee Picchi Associate Managing Editor, MoneyWatch Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports. Read Full Bio Aimee Picchi May 22, 2026 / 12:06 PM EDT / CBS News Add CBS News on Google Homeownership has long been seen as a cornerstone of the American Dream because it reliably builds wealth. But new research suggests your chances of ever acquiring a home may depend partly on something beyond your control: your parents' wealth.To examine the factors that influence what economists refer to as "wealth mobility," researchers from the U.S. Census Bureau and Carnegie Mellon University analyzed IRS tax records, Census data and property ownership records for 3.4 million families. The analysis then tracked the children born to those families — kids born between 1978 and 1986, or the youngest Gen Xers and youngest millennials — and whether they were able to buy a home between 2019 and 2021, when they were between 34 and 42 years old.The bank of mom and dadA key finding was that homeownership depends more on parental wealth than adult income, especially in expensive housing markets. Even people who significantly increase their income over their careers are less likely to own a home if their parents were renters than those with homeowner parents."Even if children grow up to earn about the same amount as adults, those with wealthier parents have higher homeownership rates and more valuable homes when they do own homes," Max Risch, one of the paper's co-authors and an economist at Carnegie Mellon University, told CBS News.He added, "The opportunity to achieve this...