{"id":3551,"date":"2018-06-18T08:56:35","date_gmt":"2018-06-18T12:56:35","guid":{"rendered":"http:\/\/dankrell.com\/blog\/?p=3551"},"modified":"2020-01-07T07:57:21","modified_gmt":"2020-01-07T12:57:21","slug":"modern-homeownership","status":"publish","type":"post","link":"https:\/\/dankrell.com\/blog\/2018\/06\/18\/modern-homeownership\/","title":{"rendered":"Modern homeownership"},"content":{"rendered":"
\"modern<\/a>
Modern Homeownership (infographic from California Association of Realtors car.org)<\/figcaption><\/figure>\n

June is National Homeownership Month.\u00a0 In recognition of modern homeownership, National Association of Realtors President Elizabeth Mendenhall stated in a June 1st<\/sup> press release<\/a> that \u201cNational Homeownership Month is a time to celebrate and promote the modern American Dream of owning a home.\u00a0 Homeownership changes lives and enhances futures, and many Americans see it as one of their greatest hopes. These individuals are counting on the nation\u2019s 1.3 million Realtors to champion and protect homeownership and help make it more affordable, attainable and sustainable<\/em> (nar.realtor).\u201d<\/p>\n

The NAR provides a history<\/a> of celebrating modern homeownership which goes back almost a century (nar.realtor).\u00a0 The roots of celebrating homeownership go back to the 1920\u2019s when local associations would bring together consumers and brokers during \u201cReal Estate Day\u201d events.\u00a0 In 1955, the National Association of Realtors created a national \u201cRealtor Week\u201d to promote the value of Realtors when buying a home<\/a>.\u00a0 The celebration of modern homeownership began in\u00a0 1976 when \u201cRealtor Week\u201d was changed to \u201cPrivate Property Week.\u201d\u00a0 Then in 1986, the celebration was changed to \u201cAmerican Home Week\u201d to promote owning a home as part of the American Dream.\u00a0 June became National Homeownership Month through a proclamation by President Bush in 2002, which expanded the American Home Week to include HUD initiatives.\u00a0 Although 2008 was the last official proclamation of National Homeownership Month, it has been observed annually.\u00a0 However, last year, President Trump revived the annual proclamation recognizing the significance of homeownership.<\/p>\n

Although the idea of homeownership hasn\u2019t changed since the 1920\u2019s, many things have.\u00a0 For example, buying a home<\/a> is much easier and affordable today than it was then.\u00a0 You can now search homes from your couch, rather than driving to individual broker offices.\u00a0 Additionally, low down payments and thirty-year fixed rate mortgages have made modern homeownership a realty for many.<\/p>\n

Of course, some things haven\u2019t changed in a century<\/a>.\u00a0 A home is still an asset that maintains relative market value.\u00a0 Given regular cycles of up and down markets, real estate can appreciate over time.\u00a0 There are also some tax advantages to owning a home (consult your tax preparer).\u00a0 Furthermore, owning a home stabilizes communities and encourages civic pride, which positively affect home values.<\/p>\n

Additionally, there are many social benefits<\/a> to homeownership.\u00a0 Studies demonstrate that home owners tend to be more charitable, have an increased connection to their neighborhood, have an increased general positive life outlook, express an increased self-esteem and higher life satisfaction, and be healthier.\u00a0 Other studies indicate that children living in owner-occupied homes have higher test scores, higher graduation rates, decreased delinquencies, and an increased participation in organized activities.<\/p>\n

\"homeownership<\/a>
Homeownership Rate (census.gov)<\/figcaption><\/figure>\n

The comparisons of the costs of renting vs. the costs of owning a home<\/a> hasn\u2019t changed over time.\u00a0 Of course, the debate takes on a different tone depending on the state of the economy.\u00a0 During the Great Recession, many believed that owning a home was folly.\u00a0 Even after the recession, many continued to believe that real estate wasn\u2019t a viable investment, while discounting the other benefits of homeownership.\u00a0 The homeownership rate bottomed to a modern low of 62.9 percent during the second quarter of 2016 (census.gov<\/a>).\u00a0 However, homeownership is back in vogue.\u00a0 Even with increased home prices and mortgage rates, buying a home today can still be less expensive than renting.<\/p>\n

Modern homeownership – your home is a silent witness to your life.<\/h2>\n

You have a relationship with your home<\/a>.\u00a0 When you own a home, your relationship with it is intimate and symbiotic, which contributes to an intangible and intrinsic sense of wholeness.<\/p>\n

Original published at https:\/\/dankrell.com\/blog\/2018\/06\/18\/modern-homeownership\/<\/p>\n

By Dan Krell
\nCopyright \u00a9 2018.<\/p>\n

If you like this post, do not copy; instead please:
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\"Protected<\/a>Disclaimer<\/a>. This article is not intended to provide nor should it be relied upon for legal and financial advice. Readers should not rely solely on the information contained herein, as it does not purport to be comprehensive or render specific advice. Readers should consult with an attorney regarding local real estate laws and customs as they vary by state and jurisdiction. Using this article without permission is a violation of copyright laws.<\/p>\n","protected":false},"excerpt":{"rendered":"

June is National Homeownership Month.\u00a0 In recognition of modern homeownership, National Association of Realtors President Elizabeth Mendenhall stated in a June 1st press release that \u201cNational Homeownership Month is a time to celebrate and promote the modern American Dream of owning a home.\u00a0 Homeownership changes lives and enhances futures, and many Americans see it as … <\/p>\n

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