Thankful to be living the American Dream

Tomorrow, across the country, friends and families will gather to celebrate Thanksgiving. Yes, I will be enjoying all of the food, football and shopping the holiday brings, but most importantly I will be giving thanks. And as a homeowner I particularly have a lot to be thankful for:

  • By owning a home I am building long-term wealth. Historically, a home owner’s net worth has ranged from 31 to 46 times that of a renter.
  • I am free to redecorate, renovate, and modify my home as wish. In fact after six weeks undergoing a kitchen remodel I am looking forward to preparing many home-cooked meals!
  • My housing costs are stable whereas a renters will typically increase three percent a year. I can also deduct my mortgage interest and property taxes on my federal income tax return.

Studies also show that homeownership has a significant positive impact on net worth, educational achievement, civic participation, health and overall quality of life. Consider this:

  • People who own homes vote more, volunteer more and contribute more to their neighborhoods.
  • Every home purchased pumps $60,000 into the economy for furniture, home improvements and related items.
  • Housing accounts for more than 15 percent of the national Gross Domestic Product, a key driver of our national economy.

It is for these reasons and more that I am thankful to be a homeowner and live the American Dream! Find out more about why Homeownership Matters, how REALTORS®  are standing up for it, and how you can help spread the word, at www.realtor.org/homeownership.

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