Benefits of Home Ownership

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Home owners provide stability.
 Owners typically stay in their home 12 years whereas renters stay no more than three years. 
U.S. Census American Housing Surveys
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Home ownership builds confidence.
 Owners possess significantly higher levels of self-confidence than renters.
Rossi and Weber National Survey of Families.
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Home owners create positive environments for families.
Children of home owners are 59% more likely to become homeowners.  Their children are also 25% more likely to graduate from high school and 116% more likely to graduate from college. 
Boehm & Schlottmann, University of Tennessee.
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Home ownership improves neighborhoods.
 Owners are 28% more likely to improve their home and 10% more likely to participate in solving local problems. 
George Galster, “Land Economics” and DiPasquale & Glaeser, Harvard’s Joint Center for Housing Studies.
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Home owners are more involved in civic affairs.
  including voting in the last election and knowing their elected officials.  
DiPasquale & Glaeser, Harvard’s Joint Center for Housing Studies.
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Home ownership builds wealth.
 The median net worth of most modest-income owners is almost $60,000 compared to less than $10,000 for renters in the same income group. 
Federal Reserve Board – Survey of Consumer Finance.
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Home ownership provides tax benefits.
 The typical home owner that pays a $1,000 house payment will realize tax savings of about $120 each month.