Social Benefits of Homeownership and Stable Housing

[Pages:4]Social Benefits of Homeownership and Stable Housing

? Homeowners bring stability to neighborhoods. ? The decision to stay in school by teenage students is higher

for those raised by home-owning parents compared to those in renter households. ? Housing tenure of parents plays a primary role in determining whether or not the child becomes a homeowner. ? Homeowners participate in elections much more frequently than renters. ? Homeowners are happier and healthier than non-owners ? Low-income people who recently became homeowners reported higher life satisfaction, higher self-esteem, and higher perceived control over their lives. ? Homeowners are far less likely to become crime victims.

Source: Social Benefits of Homeownership and Stable Housing NATIONAL ASSOCIATION OF REALTORS? Research Division August 2010

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Good jobs enable people to achieve the American dream of home ownership.

? For every two homes sold, one job is created. ? Therefore, every 1,000 home sales generate 500

jobs. ? Each home purchased pumps up to $60,000 into

the economy. ? Housing accounts for more than 15% of the Gross

Domestic Product, making it a key driver in our national economy. ? Housing has led this country out of six of the last eight recessions.

We are the Heart of Florida Real Estate

Home ownership also provides many benefits to the family, children and the community:

? Increased education for children ? Lower teen-age pregnancy rate ? Higher lifetime annual income for children

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In Conclusion

Homeownership boosts the educational performance of children, induces higher participation in civic and volunteering activity, improves health care outcomes, lowers crime rates and lessens welfare dependency.

With the home purchase comes the pride of ownership and the sense of belonging in a community where one has a financial stake in the neighborhood. Perhaps, homeowners are "happier" just from having achieved the so-called "American Dream" -- a sense of accomplishment, a milestone.

Given such an opportunity, public policy makers would be wise to consider the immense social benefits of homeownership for families, local communities and the nation.

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