The Hidden Value of Homeownership
Owning a home doesn’t just help you build wealth. It also impacts your life and your children’s lives. Here are some of the specific benefits homeowners may enjoy over renters.
- Homeowners are healthier and live longer.
- Homeowners are less likely to suffer from depression.
- Children of homeowners often achieve a higher level of education.
- Children of homeowners have significantly lower teen dropout and pregnancy rates.
- Homeowners have a better understanding of politics and are more likely to vote.
- Owning a home reduces the likelihood of divorce.
- City homeowners are less likely to be victims of crime.
- Children of homeowners are likely to earn more over their lifetimes.
- Homeowners are more likely to be involved in neighborhood groups.
Protecting Rights, Expanding Access, Building Prosperity.
2023 REALTOR® Legislative Priorities
Address America's Housing Shortage
REALTORS® strive to ensure all Americans have the opportunity to achieve homeownership, which is the centerpiece of the American Dream and the pathway to economic well-being and intergenerational wealth building. However, a historic 50-year record shortage of affordable homes available for purchase has severely limited access to the residential real estate market.
A recent NAR study estimates that the U.S. has developed an “underbuilding gap” of over 5.5 million housing units
over the last 20 years. This translates into a $4.4 trillion underinvestment in housing. Even relatively modest steps
taken now to reduce this gap will unleash tremendous economic activity.
- Incentivize more owners to sell their homes by increasing the maximum amount of capital gains a homeowner can exclude on the sale of a principal residence and annually adjusting it for inflation.
- Attract private investment for building and rehabilitating owner-occupied homes by offering tax credits that create a pathway to neighborhood stability through sustainable homeownership.
- Incentivize the conversion of unused commercial buildings to residential and mixed-use properties.
- Create incentives for housing provider participation in the Department of Housing and Urban Development’s (HUD) Housing Choice Voucher (HCV) program.
Ensure Fair Housing For All
- Reauthorize and increase funding for HUD fair housing enforcement programs.
Homeownership Related News:
- From the Desk of the Interim CEO: Celebrating Homeownership Month - by Jana Currier, Interim CEO/COO (6/23)
- Buying a House Could Be the Best Investment You Ever Make - by Kenny Parcell, NAR 2023 President (6/23)
- Unlocking Homeownership (6/023)
- Report: U.S. Housing Market Needs More Than 300,000 Affordable Homes for Middle-Income Buyers (6/23)
- Celebrating Homeownership Month (6/23)
- NAR Report: U.S. Homeownership Market Share Increases, But Black-White Ownership Gap Grows to Largest in Decade (3/23)