Real Estate Ownership – The Cornerstone of Am #ballarat #real #estate

By | 27/11/2016

#real estate by owner

Real Estate Ownership:

The Cornerstone of America

Iconic homes, from “Little House on the Prairie” to the suburban split-level owned by the blended Brady Bunch, of 1970’s sitcom fame, crystallize Americans’ shared aspirations for both the type of homes they own and the lives they live in them.

Real estate transactions and maintenance

Buying, selling, fixing up, decorating, and managing – support as much as 17% of the American economy, not to mention a significant swath of basic-cable programming.

From the moment the Puritans set foot in New England, pursuit of real estate has shaped America’s growth, rights and cultural milestones. Fewer than half of all Americans owned their own homes until the dawn of the twentieth century .

Excepting a decline during the Great Depression, homeownership has steadily risen, peaking at nearly 70% in the first decade of the 21st century, then eroding as that decade’s housing bubble burst.

As with all investments, the return on real estate varies widely, depending on factors such as the local economy, the quality of the neighborhood, and the condition of the house itself.

Traditionally, the Federal government has subsidized homeownership through the mortgage interest deduction, a factor that has proved the tipping point for many buyers. But the appeal of owning real estate transcends country cultures and tax incentives .

Benefits of Owning Real Estate

In fact, numerous academic studies support the commonly held wisdom that homeownership delivers as many intangible benefits as financial returns.

  • One study, by the New York Federal Reserve Bank, documented that children of homeowners had better educational outcomes than that of renting neighbors.
  • Another study theorized that long-term residence, not homeownership per se, fostered academic achievement in children.
  • That only about 5% of homeowners move each year – compared to a much higher rate among renters – supports researchers’ contention that stable neighborhoods dominated by owner-occupied homes and safe, well-maintained real estate, are among the cornerstones of a nurturing environment for children. is aligned with the long-held American dream of home and real estate ownership. “By owner’ selling enables home owners greater control over the transition of their real estate and enables them to recoup the greatest return from this most American of investments.

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