Home Ownership Brings Substantial Community Benefits
Did you know that studies have demonstrated that home ownership brings substantial social benefits for families, communities, and our Country as a whole? A National Association of REALTORS (NAR) 2010 report, Social Benefits of Homeownership and Stable Housing, showed that home owners are more active in their communities, benefit from improved education opportunities, and report higher levels of self-esteem and happiness when compared to renters. According to the U.S. Census Bureau, home owners move less often than renters, which in turn, adds to neighborhood stability. Community involvement by these home owners helps prevent crime, improve childhood education and support neighborhood upkeep and general quality-of-life. (REALTOR.org, Washington, DC, July 1, 2011).
According to NAR, the economic benefits of home ownership includes:
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For every two homes sold, one job is created.
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Each home purchased pumps up to $60,000 into the economy.
- Home ownership accounts for over $2 trillion of the United States GDP.
These impressive statistics substantiate the numerous benefits of an active real estate market.
