Say what you want about the convenience and rentals and the ever-dropping quality of housing and tough mortgage payments, but the fact remains: being a homeowner is a good thing. Ask any American. It’s almost like the crowning achievement of financial prosperity, for God’s sake! After paying upteenth million dollars of rent to places you can never update or add-on or even sell for profit, when you actually reach your hand out to receive your very first house keys, it truly is a wonderful feeling–the American Dream even.
This feeling has been around since the 1930s, and it’s been full public policy to design cheaper and easier home buying. Why? Because homeownership harbors long-lived social benefits, stabilizing neighborhoods and stimulating community growth both on personal and financial levels. The quality of life almost always goes up. The economy rises. The more people own homes, the better life in general can be. It even has economic benefits from an individual standpoint, encouraging new homeowners to monitor their money, leverage their incomes, and build their wealth better. Makes senses, doesn’t it? After all, you can’t really build your wealth if you’re throwing away your money on rent.
Keep in mind, though, that being a homeowner does come with serious responsibility. There’s no slacking off here. Think about it–you’re a home owner! That’s huge. That’s bigger than owning a car! And we sweat blood over the maintenance of our own vehicles; can you imagine how hard we’d work for our houses?
Either way you look at it, it’s important to understand that housing is crucial to our way of life. It is, without doubt, the final American Dream.