2010 was a year when the media questioned whether home ownership is good for America and challenged federal initiatives that favor home ownership-including the mortgage interest deduction. We recently got an email from a prospective buyer in which he questioned whether he should buy a house now or wait a few more years. In probing for more, we discovered that much of his doubts were coming from the media and a friend who insisted this wasn't the right time to buy. The media attacks seek to persuade the public that such actions (buying a house) is not in their best interest.
Homeownership has many advantages. In a recent pre-taped video conducted by the National Association of Realtors, current home owners shared with the audience their perspectives on how home ownership has changed their lives. The benefits these individuals, couples and families described were as diverse as they were. For some, home ownership provides a sense of community stability and financial security for their children; for others, it gives them the opportunity to establish family traditions, or to build financial security. All of them underscore a belief that owning a home is still a part of the American Dream.
We don't know about others out there but as REALTORS® we have faced this challenge and are grateful that the National Association of REALTORS has launched the Home Ownership Matters campaign. They are working on our behalf to preserve this important American institution.
Connect with Home Ownership Matter on Facebook.