Teacher Next Door Blog

Why Home Ownership Matters

September 23rd, 2019 4:13 PM by Teacher Staff



Teacher Next Door’s stated mission is to increase home ownership, support community development and increase access to affordable housing, free from discrimination.  So why is home ownership so important?  The following research from multiple sources speak clearly to the importance of home ownership in America:

  • Children of homeowners are significantly more likely to stay in school until age 17 than children of renters, especially in low-income households, according to a study in the Journal of Urban Economics.
  • Children in home owning families outperform children in renting families in both math and reading achievement tests, even when other factors are the same. These children will have fewer behavioral problems, higher educational attainment and greater future earnings, according to a study by an Ohio State University economist.
  • The graduation rate for children of homeowners is 19 percent higher than for renters, and they are twice as likely to acquire some post secondary education, according to a study in a journal published by the Federal Reserve Bank of New York.
  • A 2014 study by the Federal Reserve Bank of Boston of homes with a student about to enter college found that a modest increase in home value for homeowners led to an increase in the child’s earnings later in life, while an increase in a property’s value for renters led to a decrease in the child’s earnings.
  • “A safe, decent, affordable home is like a vaccine,” Dr. Megan Sandel of the Boston University School of Medicine testified to Congress in 2007. “It literally prevents disease. A safe home can prevent mental health and developmental problems, a decent home may prevent asthma or lead poisoning, and an affordable home can prevent stunted growth and unnecessary hospitalizations.

While it’s true that home ownership will not solve every problem, we are proud to do our part to help families across America realize their dream of becoming homeowners. 

Housing GRANTS and down payment assistance is currently available for teachers, school employees, nurses and healthcare workers, law enforcement, firefighters, government employees and military families.  For a complete list of available programs you may visit    www.teachernextdoor.us/Home.Buying.Programs.


APPLY NOW



Research contributed by Garrett Helminski.


 


Archives:

My Favorite Blogs:

Sites That Link to This Blog: