Research has consistently shown the importance of the housing sector on the economy and the long-term social and financial benefits to individual homeowners. However, in recent years many have questioned the role of homeownership due to the housing downturn and foreclosure crisis. Thus, a related question is: do the social benefits of homeownership from the past still apply? With respect to the new conditions of the real estate market, the current report provides an updated review of the social benefits of homeownership. Looking specifically at some outcome measures such as: education, civic participation, health, and crime.
Article courtesy of National Association of Realtors Economists’ Outlook blog. Click to view full article and report.