President Donald J. Trump proclaimed June 2017 as National Homeownership Month. The President stated, During National Homeownership Month, “We recognize the many benefits of homeownership to our families, our communities, and our Nation. For generations of Americans, owning a home has been an essential element in achieving the American Dream. Homeownership is often the foundation of security and prosperity for families and communities and an enduring symbol of American freedom. This month, we recommit to ensuring that hard-working Americans enjoy a fair chance at becoming homeowners.”
It is a time to encourage the American Dream of owning a home. Homeownership is an unsurpassed investment an individual can make to build their personal wealth. Owning a home is not just in the best interest of the homeowner.
Owning a home provides social stability, builds communities and is a driving force for the national economy. Owning a home is not just in the best interest of the homeowner, it impacts our country.
As the U.S. economy improves, some renters may finally turn to homeownership, provided they qualify for home loans. “The national housing market is finally returning to normal,” according the Joint Center’s State of the Nation’s Housing report from 2017. Developers are also starting to build more single-family homes. For the first time since 2005, single-family construction drove the overall growth in housing starts in 2016.
If you have interest in discussing the state of the Palm Beach County area real estate market, please contact the real estate specialists at Waterfront Properties and Club Communities at INFO@wfpcc.com.