2006/01/29

Homeowners are better citizens than renters

SFGate has "If you own your home" which points out owners (unlike renters):

Even after controlling for such variables as level of income, education, race, etc., studies conclude that homeowners, as a group, are physically and mentally healthier.

They are happier and more satisfied with their lives. Their children receive more education and are less likely to get into trouble. Their daughters are less likely to become pregnant as teenagers. They vote more often and take a more active role in their community. They are more likely to recycle and less likely to get mugged.

In the summary of his 2003 study, "The Social Consequences of Home Ownership," Robert Dietz, professor of economics at Ohio State University, concluded that there are four major areas of social benefits to homeowners with respect to their families and communities: education of children, political activity, personal happiness and enhanced property values.

As a renter (for now :-), I'll agree about the property value: I care less about the home (and its yard) than when I was an owner. As for education, we home educate so don't tell me we don't care. Personal happiness is always changing so that's NOT a meaningful stat. As for political activity, I've chosen to check out of the current system -- but I am taking steps to subvert I mean supplement the system that exists today.

Personally, I don't think it is matter of home ownership or renters but whether one is a slave or not. If one is slave (i.e. owe money) then one becomes lesser citizen because he is more concerned about his finance (and stressed over it) than if he was debt free (or cash flow positive with capital asset financed by loan). By becoming a freeman, he is happier (less stress) and he will take responsibility for all aspects of life be it education of his children or how much he chooses to be involved in the political system.