Earlier this week, we learned about homeownership's many positive impacts on the local economy. But did you know that homeownership also helps foster stronger, more stable neighborhoods?
That's because owning a home provides a strong sense of belonging with a noted "power of attachment." As such, homeowners tend to be more invested in their communities, with pride that extends beyond their front doors and into their neighborhoods.
When people have strong ties to where they live, the community tends to experience:
Because homeowners have a much greater financial and personal stake in their communities, they're more likely to spend their time and money in their communities too — making them better places to live for everyone. In most cases, it's a win-win for the homeowner and the community.
Be sure to visit My Home by Freddie Mac® to learn more about homeownership and follow our blog series, Why Homeownership Matters: The Triple Bottom Line, in celebration of National Homeownership Month.
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