Home Ownership Still the American Dream & Major Driver of the U.S. Economy

Mon, June 05, 2017 10:31 AM | Mary Speed Lynch (Administrator)

 

Homeownership is the Foundation of the American Dream.

·        For many people, owning a home is part of their American Dream.  Homeownership builds stronger communities, provides a solid foundation for family and personal achievement and improves the quality of life for millions of people. It is truly the cornerstone of the American way of life.

 

·        Most Americans consider homeownership to be the single best long-term investment and a primary source of wealth and financial security. Countless generations of Americans have counted on their homes for their children’s education, their own retirement and a personal sense of well-being.

 

·        Yet, a home is so much more than an investment. In good times and in bad, the opportunity to own a home has been a cherished ideal and a source of pride, accomplishment, social stability and peace of mind.

·        Changing housing policy now to make owning a home more expensive is unfair and would hurt those that have played by the rules and made the sacrifices to get where they are now.

·        It would harm millions of Americans who are struggling to make their monthly mortgage payments and those who aspire to one day own a home of their own.

Homeownership is a Major Driver of the U.S. Economy

·        The nation’s housing and homeownership policies over the last century have contributed to the growth of the middle class and helped the United States become the most dynamic economy the world has ever seen.

·        Fully 15 percent of the U.S. economy relies on housing and nothing packs a bigger local economic impact than home building.

·        Constructing 100 new single-family homes creates 297 full-time jobs, $28 million in wage and business income and $11.1 million in federal, state and local tax revenue.

·        A healthy housing industry means more jobs and a stronger economy. Home building increases the property tax base that supports local schools and communities.

Housing, like no other sector, is “Made in America.” Most of the products used in home construction and remodeling are manufactured here in the United


 

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