Many have expressed deep concern over the persistent published negativity related to homeownership.  Timemagazine states that “homeowership has let us down”.  Robert Samuelson, columnist for the Washington Post and Newsweek, states “The relentless promotion of homeownership as the embodiment of the American dream has outlived its usefulness.”  Fortune magazine speaks to the “rise of the renting class.”

It’s predictable that we see press of this nature in this uncertain economy.  Their opening salvos are not unfounded.  Too many home buyers got in over their heads by purchasing a home they simply couldn’t afford, or by using their home equity to finance a lifestyle they couldn’t sustain.  Other buyers were victimized by predatory lending practices or job cuts.

Where I differ with these writers is in their diminishment of the value of owning a home.  Owning a home has long been a key component of the American dream.  It will continue to be long after the current economic uncertainty has passed.  Homeownership is the dream of people everywhere!  To have our own home is to have a safe place for ourselves and our childeren.  It’s the place where we celebrate our birthdays, holidays and welcome friends.

Research has consistently shown the long-term benefits of  homeownership to our communities and nation … positive correlation with self-esteem, educational achievement, civic participation, and crime prevention.

We need to unite and create a vision for a new American dream – one that is founded by responsible, long-term homeownership as a means of achieving social and financial well-being.

Source:  Realtor Magazine (October 2010)