Monday, January 17, 2011

Know the Facts: New Yorkers support Homeownership

Excerpt from New Yorkers support Homeownership
By Sal Prividera Jr., New York State REALTOR

REALTORS have long been strong supporters of the federal government's programs to foster homeownership such as the mortgage interest deduction and the recent federal tax credit. And rightly so, as the return on investment is many fold because home buying and homeownership are key drivers for the economy and the over-all quality of life in our communities. The positive impact of homeownership on our society has been long documented by extensive independent research.

NYSAR will be utilizing the findings of its two consumer studies conducted by the Siena Research Institutre (SRI) to continue to demonstrate that New Yorkers desire to be homeowners and support homeownership opportunities. In fact, the data support several of the Journal's points. For example, the NYSAR/SRI New York Homeownership Survey found:

- 84 percent of all New York residents believe homeownership to be a very significant part of achieving the American Dream.

- 81 percent of owners consider their home a comfort and nearly all (97%) are satisfied with owning their home.

- 90 percent of New York homeowners say that "owning my own home makes me proud, it was always something I wanted" and that "my home is where lasting family memories are made."

To read the rest of these interesting results and the conclusion of the article, please visit the link above.

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