Homeownership Matters
Homeownership is a Cornerstone of a Strong Community
Anthony Domathoti
Recently, President Biden and the White House marked National Homeownership Month with a new proclamation affirming the importance of expanding access to safe, affordable housing. June celebrates Pride and now with federal recognition, Juneteenth is a remarkable reminder of an exercise toward the American Dream of homeownership.
The Hidden Value of Homeownership
Owning a home doesn’t just help you build wealth. It also impacts your life and your children’s lives. Here are some of the specific benefits homeowners may enjoy over renters.
- Homeowners are healthier and live longer.
- Homeowners are less likely to suffer from depression.
- Children of homeowners often achieve a higher level of education.
- Children of homeowners have significantly lower teen dropout and pregnancy rates.
- Homeowners have a better understanding of politics and are more likely to vote.
- Owning a home reduces the likelihood of divorce.
- City homeowners are less likely to be victims of crime.
- Children of homeowners are likely to earn more over their lifetimes.
- Homeowners are more likely to be involved in neighborhood groups.
Protecting Rights, Expanding Access, Building Prosperity.
2022 REALTOR® Legislative Priorities
Improve Access to Sustainable Property Ownership
A historic 50-year record shortage of affordable homes available for purchase has severely limited access to the residential real estate market. Even relatively modest steps taken now to reduce the gap will unleash tremendous economic activity and create millions of new jobs.
The pandemic also created shifts in the commercial real estate market, especially in the office and retail sectors. Policies that support repurposing underutilized or vacant commercial properties can revitalize communities by creating new commercial uses and housing:
- Cosponsor the bipartisan Housing Supply and Affordability Act
- Cosponsor the bipartisan Neighborhood Homes Investment Act
- Cosponsor the GREATER Revitalization of Shopping Centers Act
- Cosponsor the Revitalizing Downtowns Act
Ensure Fair Housing For All
REALTORS® are firmly committed to the enforcement of fair housing laws and to policies that promote homeownership for all qualified buyers.
- Cosponsor the Housing Fairness Act
Homeownership Related News:
- Fannie Mae, Freddie Mac Release Equitable Housing Finance Plans to Address Racial Homeownership Gap (6/2022)
- NAR Study Suggests Biggest Obstacle to Homebuying Is the Lack of Affordable Housing, Available Inventory (4/2022)
- NAR: Millennials Remain Dominant Home Buyer Generation with 43% Market Share (3/2022)
- Report: Homeownership Growth Continues For Latinos, but Strong Headwinds Persist (3/2022)
- U.S. Homeownership Rate Experiences Largest Annual Increase on Record (3/2022)