“…the most important message of the NATIONAL ASSOCIATION OF REALTORS for 2011 is as simple as it is powerful: Home ownership matters.”
(NAR 2011 Public Awareness Campaign: www. REALTOR.ORG/homeownership)
There are five documented benefits to owning a home:
1. Stronger Families
2. Higher Academic Achievement
3. More Cohesive Communities
4. Improved Health and Safety
5. Stronger Economy
The argument has been pushed, especially in this economically hard time, that home ownership is a misrepresentation of reality. No one can argue that a small minority of the populous buys a home when they are not financially or otherwise ready, but that fraction of buyers to not represent the whole. Studies done by the Federal Reserve have declared that the median net worth of home-owning families is more than $200,000 compared to about $5,000 for those who rent. If families can climb onto the homeownership ladder they can keep climbing and building their equity.
This serves a self interest as well as a progressive vision as a whole for the economic state of the US. National recovery hinges on residential and commercial real estate. Each sale generates economic activity and in turn, jobs.
Home ownership is a priority to NAR. Getting consumers to that point is a priority to me.