“Owning a home embodies the promise of individual autonomy and is the aspiration of most American households. Homeownership allows households to accumulate wealth and social status, and is the basis for a number of positive social, economic, family and civic outcomes.”
Today, we want to cover the section of the report that quoted several studies concentrating on the impact homeownership has on the civic participation of family members. Here are some of the major findings on this issue revealed in the report:
Homeowners have a much greater financial stake in their neighborhoods than renters. With the median national home price in 2015 at $223,900, even a 5% decline in home values will translate into a loss of more than $11,195 for a typical homeowner.
Because owners tend to remain in their homes longer, they add a degree of stability to their neighborhood.
Homeowners also reap the financial gains of any appreciation in the value of their home, so they also tend to spend more time and money maintaining their residence, which also contributes to the overall quality of the surrounding community.
Homeowners were found to be more politically active than renters with 77% of homeowners saying they had at some point voted in local elections compared with 52% of renters.
There seems to be a greater awareness of the political process among homeowners. About 38% of homeowners knew the name of their local school board representative, compared with only 20% of renters.
There is a higher incidence of membership in voluntary organizations and church attendance among homeowners.
Homeownership does create social capital and provide residents with a platform from which to connect and interact with neighbors.
Owning a home means owning part of a neighborhood, and a homeowner’s feelings of commitment to the home can arouse feelings of commitment to the neighborhood, which, in turn, can produce interactions with neighbors.
People often talk about the financial benefits of homeownership. As we can see, there are also social benefits of owning your own home.
Author:Bonnie Lelak Phone: 404-788-2580 Dated: February 21st 2017 Views: 43 About Bonnie: Experience with regular home sales, short sales, foreclosures, HUD homes, no down payment program ho...
As a Realtor I have been able to use many of the skills that I have learned from my previous experiences. I spent the past 10 years owning a home inspection company with my husband and watched as buyers would find a home and then have it inspected and be disappointed with the findings. I love being able to help buyers from the start of the process. As a buyers specialist I can help clients look at homes with a different eye, always looking for tings that the home inspector will find issues with and helping my clients see possible issues before going under contract, saving them time, money and heart ache. Servicing all levels of buyers, from the first time home buyers to the luxury buyers. The finishing touch is being able to provide them with tools that can help them pay off their home in less than half the time. Helping buyers find their dream home is very rewarding.
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A study by Edelman Berland reveals that 33% of homeowners wh
"Bonnie is a very conscientious real estate agent with the utmost integrity. If Bonnie does not know all the facts of a question or requested information she will tell you up front that she may not know all the details but she will certainly do her best to find the answers and will not mis-lead you. Bonnie is very Spiritual person and is a pleasure to work with. We came to know each other quite well on the last 6 months and We would highly recommend Bonnie to represent any of our friends, relatives, associates or church members.
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