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Millions of Americans formerly shut out of homeownership because
they were not prepared properly for Successful Home Ownership

The issue of millions of Americans locked out of homeownership continues to frustrate well-intentioned policymakers. Their concerns are hardly trivial. Recent studies make it clear that those who successfully own homes that they can afford are far more likely to attain greater financial security and social stability than those who do not.

Even as America’s overall homeownership rate languishes, one segment of that total is further disadvantaged. Minorities are nearly 30% less likely to be homeowners than Caucasians, since the rate of Caucasian homeownership had reached 74%, while the minority rate had reached 48.5%. This means they face a much more uncertain fate when it comes to achieving the American dream of successful homeownership.

Spending on housing represents 20% of the national economy. No wonder, then, that the foundation of most families’ wealth in the United States is successful homeownership. A home is historically has been a stable financial investment.

Recent studies focused on the social impact of living in one’s own house clearly demonstrate a broad range of advantages accruing to homeowner families. These benefits span a broad range of quality of life payoffs – from higher school grades and lower teen pregnancies to stronger neighborhood collaboration and greater voter participation in local, state and federal elections.

Among the findings:

  • Children of homeowners showed a 9% higher probability of being in school than those of renters.
  • Teenage pregnancy rates in families owning their homes are from 2-4% lower than for families who rent.
  • Children of homeowners have a 25% higher probability of completing high school than renters’ children.
  • Children of homeowners have a 116% better chance of graduating college than renters’ children.
  • Children of homeowners had a 59% better chance of being homeowners themselves within 10 years of leaving the parental home.
  • Math achievement scores are 9% higher among homeowners’ children than renters’ children.
  • Reading achievement scores are 7% higher among homeowners’ children than renters’ children.
  • Homeowners are 25% more likely to vote in local, state and federal elections than renters.

It has become unmistakable that successful homeownership is America’s most effective vehicle for citizens to achieve family generational wealth. This wealth begets an economic “ripple effect” in neighborhoods where new homeowners settle, creates jobs, and increases the tax base and spurs business start-ups. As recent studies make clear, homeownership is also the cornerstone for vast improvements in quality of life.

Children of homeowners are more likely to go to school, do well at school and go on to college. Homeowners themselves are more active in community and exercise their fundamental right to vote in local, state and federal elections in far larger numbers than those who do not own their homes.

The American Family Dream Successful Home Ownership program helps more families accomplish the dream of homeownership.


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Joel S. Pate, Chairman of American Family Dream Corporation.