Home Ownership


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Home Ownership

The state of owning one's primary residence. Homeownership gives the owner a stake in his/her neighborhood or town's long-term stability, and is a significant investment. The U.S. federal government thus attempts to encourage homeownership by allowing owners to deduct the interest on their mortgages from their taxable income.
References in periodicals archive ?
To promote home ownership and in recognition of the difficulties of ascertaining a home's tax basis, Congress has traditionally offered homeowners numerous tax benefits.
Those in the North East have the best deal, home ownership eats up just 16 per cent of income.
The editors begin by asking why home ownership has been so neglected in social stratification studies?
"Many individuals haven't pursued home ownership because of a lack of information about the home-buying process, less-than-perfect credit and/or insufficient funds for a down payment," adds Tsien.
To Diaz, there is something about home ownership that has moved him through a threshold of some kind, into adulthood, into citizenship, into his rightful place.
* To what extent have rates of home ownership fallen in Australia?
Percentage of income used for home ownership in British Columbia, the highest in the country: 39.7
"He thought there had to be a better way to help families achieve home ownership." In 2002, the mortgage guaranty insurance industry wrote $337 billion of new business for 2.31 million families, he said.
Data from the Census Bureau show the home ownership rate, as reflected in third-quarter figures, has risen steadily since 1994, when it stood at 64.1 percent.
Additionally, the institutions that were established to promote home ownership among Americans -- Fannie Mae, Freddie Mac, and the home loan banks -- have come under much criticism lately as the increasingly saturated mortgage market has prompted them to attempt expanding their activities.
Increasing home ownership rates over the past two years help account for the further extension of the current recovery period in the rental housing market.
YES Politicians are obsessed with home ownership, including both contenders for Prime Minister.