What kind of benefits do owning a home and stable housing offer?
- Findings show that homeownership has a significant positive impact on educational achievement.
- Children of homeowners tend to have higher levels of achievement in math and reading, and lower drop-out rates.
- Homeowners tend to be more involved in their communities than renters.
- Homeowners are likely to participate in local elections, civic groups and neighborhood groups.
- Homeowners and children of homeowners are generally happier and healthier than non-owners.
- The wealth building effect of homeownership and the sense of control it provides to homeowners in a stable housing market positively affect homeowners' mental and physical health.
- There is a lower crime rate among homeowners and people living in a stable housing environment.
- A stable neighborhood, independent of ownership structure, is also likely to reduce crime.
For more information visit: economistsoutlook.blogs.realtor.org/2017/10/24/highlights-from-social-benefits-of-homeownership-and-stable-housing/