The Case For Home Ownership
Homeowners report considerable higher rates of satisfaction than renters with their housing. A variety of reasons include:
Equity Build-Up. People believe in the investment wisdom of owning a home and accept mortgage payments as a benign forced savings plan. For most homeowners, housing prices move up more quickly in good times than they decline when the economy sours because homeowners shy away from selling property during recessions.
- Home ownership also means the right to control your domain. A lender can’t send homeowners packing unless they stop paying their mortgage loans. Landlords may force tenants out at the end of the lease. Owners can paint their walls with pink polka dots and install water beds and