The National Association of Realtors (NAR) recently released a study called ‘Social Benefits of Homeownership and Stable Housing’. Its biggest lesson being, “Owning a home embodies the promise of individual autonomy and is the aspiration of most American households. Homeownership allows households to accumulate wealth and social status.”
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Some main ideas from this study are as follows:
Low-income people or renters who become homebuyers report higher life satisfaction, self-esteem, perceived control over life, and better health. In fact, homeowners are 2.5% more likely to have good health.
There is a strong relationship with those who rent and respiratory issues, exposure to toxic substances, injuries, and issues with mental health.