Checking The Pulse Of The Kansas City Real Estate Market
Wondering if housing really drives the economy? According to a study by NAR, one job is created for every two homes sold and homeownership accounts for more than 15% — over $2 TRILLION — of our U.S. GDP. With the exception of many homeowners who purchased in 2006 and 2007, the financial reward of owning a home has been the single best investment most people have ever made. For those who haven’t done well or who have treaded water, there are still MANY other benefits to owning a home.
Though complicated to assess, the social benefits of home ownership are certainly huge. The NAR study indicates that homeowners pay 80% to 90% of federal income taxes collected. During our country’s great history, homeowner’s net worth has been about 40 times greater than that of renters. People who own homes also contribute greatly to stabilizing the neighborhoods in which they live, enjoy reduced crime in their areas and generally live more enriched lifestyles than those who rent.
Posted by Jason Brown