This is the title of the opening article from the Vicki L. Cox Golder, President of the National Association of Realtors in our latest REALTOR Magazine. I wanted to share her points, because I thought her message was compelling and positive at a time when many are feeling frustations with our current housing market.
In her letter, she discusses some recent articles that were published in Time, Fortune and Newsweek regarding homeownership, and how it has "let us down", "outlived its usefulness", and about the "rise of the renting class." Of course in economic times these statements are a natural reaction. And they do admit to basic truths in our market: too many Americans got in over their heads, buying a home they could not afford or using home equity to fund a lifestyle they couldn't sustain.
Although the above statements may be true, she disagrees with the diminishing of the value of homeownership, in that it has long been "a fundamental part of the American dream, and will it will continue to be so long after today's economic troubles are behind us," and that to have a home of one's own is "to have a place of safety and security for ourselves and our children." Also, the long-term benefits of homeownership cannot be ignored - namely the mortgage interest deduction, a postive correlation with self-esteem, educational achievement, civic participation and crime prevention.
Like Ms. Cox Golder, we believe in homeownership as a long-term channel to achieve the goals of social and financial well-being. Meanwhile, as there are no doubt people who are struggling as a result of the rapid market fallout, we are working with those we encounter on a personal, one-on-one basis to help them find relief in these challenging times. If you know anyone who could use assistance with housing issues in this market, please have them contact us at 952-212-3597.
ST. CLAIR BLUFFS
HAMILTON HYLANDS
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