Greater Columbia, Chapin, Irmo, Lexington and Lake Murray.

Monday, September 19, 2011

Home Ownership Matters

I attended the National Association of Realtors Home Ownership Matters Bus Stop today in Columbia.  It was co-sponsored by the S.C. Association of Realtors.    Studies show that home ownership has a significant impact on net worth, educational achievement, civic participation, health and overall quality of life.  67% of American households are owner-occupied.  America is a nation of home owners.

Mel Coker at NAR Home Ownership Bus Tour Stop in Columbia on September 19, 2011

More important FACTS:  home owners’ net worth is typically 31 to 46 times that of renters; housing accounts for more than 15% of the national Gross Domestic Product; home owners pay 80% to 90% of federal income taxes.    An improvement in the housing market is critical to business and job growth in our economy.

Yet, home ownership is under assault by some kooks in Congress.   Some want to eliminate or reduce deduction of mortgage interest (something in place for almost 100 years); there are proposals for higher down payment requirements (as high as 20% down); some want to change FHA borrowing standards and there are provisions in place to place additional capital gains taxes on certain individuals starting in 2013 for real estate transactions (believe it or not, this is in the health care bill).   As a REALTOR member, I support the National Association of Realtors as they monitor and stay in touch with members of Congress related to important  housing and real estate issues.

You too need to be informed and know issues as the upcoming elections approach in 2012.   We need change in Washington!  Know the issues and vote!

Home Ownership Matters Links:
Home Ownership Matters - HouseLogic
The Field Guide to the Benefits of Home Ownership

Mel Coker
(above opinions are personal opinions of Mel Coker)
RE/MAX Metro Associates

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