The National Association of Realtors recently released a study titled ‘Social Benefits of Home-ownership and Stable Housing’ that confirmed a long-standing belief of most Americans: “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, and is the basis for a number of positive social, economic, family and civic outcomes.”
Here are some of the major findings on this issue revealed in the report:
- The decision to stay in school by teenage students is higher for those raised by home-owning parents compared to those in renter households.
- Parental home-ownership in low-income neighborhoods has a positive impact on high school graduation.
- Though home-ownership raises educational outcomes for children, neighborhood stability may have further enhanced the positive outcome.
- Children of homeowners tend to have higher levels of achievement in math and reading and fewer behavioral problems.
- Educational opportunities are more prevalent in neighborhoods with high rates of home-ownership and community involvement.
- The average child of homeowners is significantly more likely to achieve a higher level of education and, thereby, a higher level of earnings.
Bottom Line- people often talk about the financial benefits of home-ownership but there are also social and psychological benefits of owning your own home. Look at report cards for schools in Los Angeles Unified School District in neighborhoods where you are interested in buying a home, house, condominium, or town-home: LAUSD Look up Orange County, CA, school districts here: OC Department of Education.
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Copyright © This free information provided courtesy SoCal Home Blog with information provided by Corey Chambers, Realty Source Inc, BRE#01889449. We are not necessarily associated with the seller or developer. For more information, contact (213) 880-9910. Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.