Submitted by Benjamin T Turner on
Clinch-Powell staff know that home means something different to us all: family, stability, growth. What better time to highlight all of the wonderful things that home is than during National Homeownership Month? Throughout the month of June we will be sharing stories from people in our network whose lives have been positively impacted by becoming homeowners and what it has meant to them. Clinch-Powell has provided housing services for more than 20 years. We understand the value of home, and with the recent time spent sheltering in place as a result of covid-19, home means more than ever. If you are a homeowner, celebrate with us this month! If you have not yet taken the step towards homeownership, then stay tuned throughout the month to learn more about what Clinch-Powell does and why homeownership is so valuable. Homeownership is where it’s at!
You may be wondering why homeownership gets an entire month of recognition. It is incredibly vital to families, communities and the national economy. Here are just a few reasons:
It builds hope.
Homeownership is still an aspiration for people in our communities. While not everyone wants to own their own home, research shows that most people do. In fact 75% of people surveyed by the Housing Opportunity and Market Experience Survey stated that homeownership is a goal for them. 1
It builds wealth.
Homeownership is still one of the most viable ways to build wealth. The most recent data from the Federal Reserve Board shows that a typical homeowner’s net worth was $195,400, while that of renter’s was $5,400. 2 Homeownership, if acquired and maintained in sustainable ways, is a solid investment.
It builds the economy.
Most homeowners buy more than one home over their lifetime. Depending on the circumstances, they may “trade up” or they may “downsize,” but the overall effect, along with home improvement projects, tax dollars, and other aspects of homeownership, is economic growth on a national and, particularly, on a local level. According to the National Association of Realtors, one new job is created by every two home sales.
These are just a few reasons why Homeownership gets an entire month of recognition. There are many more. Follow Clinch-Powell this month to learn how homeownership is good for individuals, families and communities, and to learn more about how Clinch-Powell can help you access sustainable homeownership.
1 https://www.nar.realtor/newsroom/homeownership-part-of-american-dream-housing-costs-deterrent-for-non-owners
2 https://www.federalreserve.gov/econres/scfindex.htm
