Home Ownership and The American Dream

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June is considered National Home Ownership month, and as we head into the Fourth of July weekend, it’s the perfect time to consider the value of homeownership and the impact of owning a home as it contributes to the American dream. For much of history, owning a home has been considered part of the American dream. According to an article for HUD, “For many Americans, owning a home is an essential part of the American dream that conveys a number of economic benefits, such as the ability to accumulate wealth and access credit by building home equity, reduce housing costs through the mortgage interest deduction, and gain long-term savings over the cost of renting” (https://www.huduser.gov/portal/pdredge/pdr-edge-frm-asst-sec-081318.html).

Home ownership certainly provides many economic advantages. However, as this year has been an anomaly for all of us, we have also seen the impact our homes make on our lives, as we have utilized our homes for work, education, relaxing, and safety during our stay-at-home orders. In many ways, our homes have become both physical and emotional shelters this year, as well as economic benefits and opportunities.

As we celebrate Independence Day this year, we appreciate the lifestyle and opportunities available in Durango, and we are grateful to help our clients buy their dream homes—a profession we are passionate about! Happy Fourth of July from The Durango Team!