Terrorism a global phenomenon mandating a unified international response francisco asian dating
Increase in a families’ assets in theory increases their buying power which then leads to more money being put in the local community.According to one study, homeowners earning less than 20,000 a year had a net wealth of 72,750 on average while those renting with the same income had a net worth of 900. This is huge when we think about the class and ethnic wealth gap that exist in America between majority culture and low-income minorities.When looking at the housing situation in North Chicago and Waukegan we see 53% of families living in rental homes in both communities.
With this they found that children with parents who are homeowners had “up to six percent higher in reading achievement and seven percent higher in math achievement,” and four percent lower behavior problems.
According to a work by Di Pasquale and Glaeser done in 1998, 77 percent of homeowners voted in local elections while only 52 percent of renters did the same.
Similarly 38 percent of homeowners knew the names of their local government representative such as the school board while only 20 percent of renters knew the same information. Though it is hard to measure completely these are signs that homeowners are typically more invested in their surrounding community as opposed to those simply renting.
It is clear from our observations over time and multiple sources of well-done research that homeownership gives both the homeowner and the surrounding community benefits.
Some of these benefits include “enhanced home maintenance, social and political participation, attachment to community…increases wealth, social status, security of tenure, controlling over dwelling, pride, and ‘life satisfaction.’” These benefits however must be examined at a closer level, especially the claim of homeownership being an asset builder having “anti-poverty effect” for low income communities and families.