Home ownership has a significant impact on net worth, educational achievement, civic participation, health, and overall quality of life. And, home ownership helps create jobs—lots of them—right here at home.
REALTORS® know that homeownership is an investment in your future. Do you? From building personal wealth over the long term to fostering communities, strengthening social stability and driving the national economy, the value of homeownership is indisputable.
The National Association of REALTORS® has conducted numerous studies and surveys looking into why Home Ownership Matters so much. Here are some of the findings:
Home Ownership Matters to PEOPLE. Owning a home is one of the best ways to build long-term wealth. In addition, studies show that Americans overwhelmingly believe owning a home is a good financial decision, and a majority of renters say homeownership is one of their highest priorities for the future. Historically, a home owner’s net worth has ranged from 31 to 46 times that of a renter. Home owners are free to redecorate, renovate, and modify their homes as they wish. Home owners can typically deduct mortgage interest and property taxes on their federal individual income tax return.
Home Ownership Matters to COMMUNITIES. People who own homes vote more, volunteer more and contribute more to their neighborhoods. Home owners typically do not move frequently, providing more neighborhood stability. In turn, this stability helps reduce crime and supports neighborhood upkeep.
Home Ownership Matters to AMERICA. Home sales in this country support more than 2.5 million private-sector jobs in an average year. For every two homes sold, a job is created. Housing accounts contributes to the national Gross Domestic Product, a key driver of our national economy. Every home purchased pumps money into the economy for furniture, home improvements and related items.
REALTORS® support plans to help America’s housing market and homeowners. Improving access to simple, low-cost refinancing and streamlining the process will help hardworking families who have stayed current on their mortgage payments and will go a long way to helping keep more families in their homes. REALTORS® also support the renovation of homes in order to sell to owner-occupants.
Do your research and take advantage of the many housing opportunities right here in Lorain County. We are fortunate to live in a region with such vast offerings. From big to small, country to city... it's available in Lorain County! Our proximity to highway and freeway access provides great commute options both east and west! Contact your LoCAR REALTOR® member today.
The National Association of REALTORS® is known as “The Voice of Real Estate.” NAR members are outspoken consumer advocates actively engaged in all elements of the residential and commercial real estate industries. REALTORS® support the American Dream of homeownership while working to create stronger, more vibrant communities in which to live and work.
As an organization, NAR is leading the drive for home ownership in many ways. NAR encourages all REALTORS® to become aggressive advocates for successful housing opportunities for families and businesses throughout the U.S. Remember, Home Ownership Matters. Members of the Lorain County Association of REALTORS® care about the community in which they live, work and support.
The Lorain County Association of REALTORS® is one of more than 1,200 local boards and associations of REALTORS® nationwide that comprise the National Association of REALTORS®. The National Association of REALTORS®, “The Voice for Real Estate,” is America’s largest trade association, representing over 1.4 million members involved in all aspects of the residential and commercial real estate industries.
REALTOR® is a registered collective membership mark which may be used only by real estate professionals who are members of the National Association of REALTORS® and subscribe to its strict Code of Ethics. Not all real estate sales agents are REALTORS®. All REALTORS® are members of NAR along with their State and Local Association.