The National Association of Realtors (NAR) recently released a study called ‘Social Benefits of Home ownership and Stable Housing’. Its biggest lesson being, “Owning a home embodies the promise of individual autonomy and is the aspiration of most American households. Home ownership allows households to accumulate wealth and social status.”
Some main ideas from this study are as follows:
Low-income people or renters who become home buyers 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.