Homeownership Is Good For Literacy
November 18th, 2007 Categories: Real Estate News
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
Homeownership Is Good For Literacy
Usually when I say that homeownership is good for literacy the first reaction is. Oh boy this guy is a salesperson and I can’t wait to hear this. In fact homeownership is good for many things in society. It lowers unplanned teenage pregnancy, lowers high school dropouts.
This isn’t about being a salesperson. This is about being a real estate professional and having a heart for single moms and the things I come across while online.
The Impact of Homeownership on Child Outcomes
Donald R. Haurin, Toby L. Parcel, and R. Jean Haurin
Abstract
Does homeownership affect the outcomes of resident children? Using a national data set, we observed that children of homeowners have better home environments, high cognitive test scores, and fewer behavior problems than do children of renters. We find that these results hold even after controlling for a large number of economic, social, and
demographic variables. Owning a home compared with renting leads to 13 to 23 percent higher quality home environment, ceteris paribus. The independent impact of
homeownership combined with its positive impact on the home environment results in
the children of owners achieving math scores up to nine percent higher, reading scores up to seven percent higher, and reductions in children’s behavior problems of up to three percent. These findings suggest homeowners support programs should be targeted at households with young children.
Excerpts
“to investigate the effect of parental homeownership on the probability that a 17-year-old remains in school and that a 17-year-old female has given birth to a child. They find that parental homeownership reduces the probability of resident 17-year old children dropping out or giving birth”.
“Another argument is that homeowners tend to stay for a longer time in a dwelling than do renters and this greater stability increases the social capital of the household. Higher levels of social capital positively influence child outcomes.”
My three pound brain knows that children thrive on stability.
Have you ever tried fixing a sandwich for a three year old different then your spouse does or use a different dish? Or have you ever tried giving a two year old a different Sippy cup.
Now imagine changing schools every year or two. Children will spend more time trying to fit in and not being the new kid more than their grades. Then once a kid is even slightly behind it gets even more difficult.
How do single moms fit in this? Easy single moms tend to rent more than their married couples.
I work with single mother support groups. I have a program that where myself and my preferred lender work with a single moms and help them achieve homeownership. We get all the fees as low as we can and use our commissions to pay the already reduced cost and other moving related cost. Other scenarios are if the home needs carpet or other things like appliances. We will work the closing cost in the loan and then use our money after closing for these items.
So if you are a single mom or know of one, we can help. The mom still has to qualify for the loan, we can help with a plan for getting qualified and some other basic budgeting help. There are grant programs and other programs we are familiar with that can buyers, not just single moms.
Leave a Reply
Copyright © 2007 Salt Lake Real Estate Blog Agent Login Design by Real Estate Tomato Powered by Tomato Blogs
This is a thought provoking study. Even though it falls into the category of “most people know it’s true, and someone asked for a grant to PROVE it’s true.” There are lots of programs for anyone in this challenging position, and it really does help build stability into the lives of their kids. Just another example of the intangible benefits of owning a home, instead of renting, and moving from place to place.
[…] 6. I work with single mother support groups. I and a lender work together to help single moms own a home. We use our commissions for down payments and closing cost. I have always had a heart for the single mom, don’t know why. My parents have been married over 53 years. My wife and I have no other families… Homeownership is Good For Literacy. […]