Why Home Ownership?

Most scholars, public policy makers, industry analysts, and civic and community leaders agree that supporting homeownership is good for America, and will produce four fundamental benefits:

1 -- Homeownership is a commitment to personal financial security.
Through homeownership, a family acquires a place to live and raise children and invests in an asset that can grow in value and provide the capital needed to start a small business, finance college tuition, and generate financial security or retirement.

2 -- Homeownership is a commitment to strengthening families and good citizenship.
Homeownership enables people to have greater control and exercise more responsibility over their living environment.

3 -- Homeownership is a commitment to community.
Homeownership helps stabilize neighborhoods and strengthen communities. It creates important local and individual incentives for maintaining and improving private property and public spaces.

4 -- Homeownership is a commitment to economic growth.
Homeownership helps generate jobs and stimulate economic growth. The design, construction, and rehabilitation of homes employs local labor and uses a vast array of American-made products and services. Homebuilding has often led the economic recovery from national recessions due to its strong job multiplier effect and because increased housing starts and home sales represent renewed economic confidence.

From "National Home Ownership Strategy: Partners in the American Dream" by the U.S. Dept. Housing and Urban Development (HUD), May 1995

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