
Impact of Homeownership on Family Health
The National Association of Realtors recently released a study titled ‘Social Benefits of Homeownership and Stable Housing.’ The study confirmed a long-standing belief of most Americans:
“Owning a home embodies the promise of individual autonomy and is the aspiration of most American households. Homeownership allows households to accumulate wealth and social status, and is the basis for a number of positive social, economic, family and civic outcomes.”
Impact of Homeownership on Family Health
Today, we’ll cover the section of the report that quoted several studies concentrating on the impact homeownership has on the health of families. Here are some of the major findings on this issue revealed in the report:
- There is a strong positive relationship between living in poor housing. A range of health problems, including respiratory conditions such as asthma, exposure to toxic substances, injuries and mental health. Homes of owners are generally in better condition than those of renters.
- Findings reveal that increases in housing wealth were associated with better health outcomes for homeowners.
- Low-income people who recently became homeowners reported higher life satisfaction. Resulting in higher self-esteem, and higher perceived control over their lives.
- Homeowners report higher self-esteem and happiness than renters. As a result, homeowners are more likely to believe that they can do things as well as anyone. Therefore, they report higher self-ratings on their physical health even after controlling for age and socioeconomic factors.
- Renters who become homeowners experience a significant increase in housing satisfaction. Most noteworthy, they obtain a higher satisfaction even in the same home in which they resided as renters.
- Social mobility variables, such as the family financial situation and housing tenure during childhood and adulthood, impacted one’s self-rated health.
- Homeowners have a significant health advantage over renters, on average. Homeowners are 2.5 percent more likely to have good health. When adjusting for an array of demographic, socioeconomic, and housing–related characteristics, the homeowner advantage is even larger at 3.1 percent.
Bottom Line
People often talk about the financial benefits of homeownership. As we can see, there are also social benefits of owning your own home.
Your Opportunity to Achieve the American Dream Keeps Getting Better!
Your Opportunity to Achieve the American Dream Keeps Getting Better! Forbes.com recently released the latest results of their American Dream Index, in which they measure “the prosperity of the middle class, and…examine which states best support the...
National Association of REALTORS Data Shows Now Is a Great Time to Sell!
National Association of REALTORS Data Shows Now Is a Great Time to Sell! National Association of REALTORS Data Shows Now Is a Great Time to Sell! We all realize that the best time to sell anything is when demand is high and the supply of that item is...
75% of Homeowners Think Now is a Good Time to Sell Your Home
75% of Homeowners Think Now is a Good Time to Sell Your Home! 75% of Homeowners Think Now is a Good Time to Sell Your Home. The National Association of Realtors (NAR) recently released the findings of their Q2 Homeownership Opportunities and Market...
Buyers Market Pushing Luxury Home Sales to New Highs
Buyers Market Pushing Luxury Home Sales to New Highs We previously reported how a shortage of inventory in the starter and trade-up home markets is driving prices up and causing bidding wars, creating a true seller’s market. At the same time, in the...
2 Steps to Get the Most Money When Selling Your Home
2 Steps to Get the Most Money When Selling Your Home. Every homeowner wants to make sure they get the best price when selling their home. But how to…
This Tree-Lined South Claremont Neighborhood is Hot for Homebuyers!
This Tree-Lined South Claremont Neighborhood is Hot for Homebuyers! [Video] This neighborhood is tree lined with California “Live Oaks”, Crape Myrtle and Elms. Often over
Supply and Demand Problem Plaguing New Construction Builders
Supply and Demand Problem Plaguing New Construction Builders. Last week at the National Association of Real Estate Editors 51st Annual Conference, CoreLogic
Do You Know How Much Equity You Have in Your Home?
Do You Know How Much Equity You Have in Your Home? If you are one of the many Americans who is unsure of how much equity you have built in your home…
4 Great Reasons To Buy A Home This Summer
4 Great Reasons To Buy A Home This Summer. The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer
Things to Consider When Selling Your House Summer 2017 E-Book
Selling Your House Summer 2017 E-Book. Here are five reasons listing your home for sale this summer makes sense. 1. Demand Is Strong
69% of Buyers are Wrong About Down Payment Needs
69% of Buyers are Wrong About Down Payment Needs. Nearly 40% of mortgage industry professionals surveyed believe that a lack of knowledge about the…
If Your Home Hasn’t Sold Yet… Definitely Check the Price!
If Your Home Hasn’t Sold Yet. Definitely Check the Price! Home sales have bounced back solidly and are now at their fourth highest pace over the past year.
5 Reasons Listing Your Home For Sale This Summer Makes Sense
The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority…
What Would You Sacrifice to Save For Your Next Home? [INFOGRAPHIC]
What Would You Sacrifice to Save For Your Next Home? [INFOGRAPHIC] The answer to this question about sacrificing will surprise you…
Six Tips to Sell Your Home Fast and For Top Dollar
These six tips to sell your home fast, for top dollar will improve your property’s appearance to buyers and facilitate a quicker sale.
Can Your REALTOR Answer These Important Questions?
Today, there are many questions your real estate agent must be able to answer to ensure your family is making the right decision. Here are just a few:
#1 Reason to List Your House for Sale, NOW!
#1 Reason to List Your House for Sale, NOW! The chart below details the year-over-year inventory shortages experienced over the last 12 months:
Housing Inventory Challenges Causing Home Sales To Slow
Housing Inventory Challenges Causing Home Sales To Slow: New home prices slowed as builders have started to turn their focus toward single family, smaller