McNair Scholars

What's Happening to the Benefits of Homeownership?

Abstract

The collapse of housing market has been headline news, but it is only part of the ongoing housing problem. With federal housing policy skewed toward homeownership, especially over the last 30 years, the economic market is also dependent on housing value and housing starts. As a result, this issue
affects the global economy and individual, national and international well-being. This crisis inspires questions about policy assumptions from a sociological perspective.

Current housing policy direction has been supported by social research demonstrating the benefits of homeownership in well-being, children's success, and community participation. Given the economic downturn, does homeownership still make sense for individuals and as public policy? This question is pertinent because other problems with homelessness and communities are escalating. This poster describes qualitative relationships, including quantitative data from 2004, 2007 and 2008.