This paper examines whether a rise in house prices that occurs immediately prior to children entering college has an impact on their earnings as adults. Higher house prices provide homeowners with additional funds to invest in their children's human capital. The results show that a 1 percentage point increase in house prices, when children are 17 years-old, results in roughly 0.9 percent "higher" annual income for the children of homeowners, and a 1.5 percent "lower" annual income for the children of renters. House price appreciation at age 17 also leads to higher college enrollment rates at age 19 and an increased likelihood of attendance at higher-ranked post-secondary institutions for the children of homeowners, as well as lower college enrollment rates for the children of renters. This Working Paper also includes the following appendices: (1) Data Construction and Summary Statistics; (2) House Prices and Rents; (3) Controlling for Selection into Homeownership; and (4) Intergenerational Mobility.