Beyond building financial wealth and security, recent studies have shown:
Homeownership strengthens neighborhoods. Because neighborhood quality can affect home values, homeowners have a financial incentive to work toward neighborhood improvements and guard against behavior that may reduce the community’s appeal.
Homeownership increases residential stability which in turn is linked to better outcomes for children. Extensive research has documented a strong association between frequent moves and poor child development and educational achievement.
Homeownership predicts positive outcomes for children. This result applies to the likelihood both of children remaining in school, and girls not bearing children as teenagers.
Homeownership tends to have a stronger impact on low-income children than children from more affluent households.
Positive homeownership experiences result in:
- greater participation in social and political activities
- improved psychological health
- positive assessments of neighborhood, and
- high school and post-secondary school completion