America’s home owners and home builders celebrate National Homeownership Month in June, bringing attention to the more than 75 million Americans who own their homes, and the millions more who aspire to achieve the American dream of homeownership. But it is also important for American families to know that homeownership is under attack. Legislative and regulatory proposals now under consideration by government policymakers would greatly harm home owners, home buyers, the housing market and the nation’s economy.
To educate Americans about the threats to homeownership and to provide opportunities for current and future home owners to take action to protect it, the National Association of Home Builders (NAHB) has launched a website, www.ProtectHomeownership.com. The site features expert economic analysis and reports, data from homeownership surveys and polls, and the answers to many frequently asked questions about housing and homeownership.
ProtectHomesownership.com highlights the threats to homeownership by describing how tax, legislative and regulatory policies currently under consideration would scale back or eliminate the mortgage interest deduction and make mortgages and small business loans unaffordable and difficult to obtain. It tells how finance and credit-related issues are making it difficult for creditworthy, financially responsible families to buy a home and threaten to ultimately prevent millions of families from ever becoming home owners.
The site documents homeownership’s importance to individual households and to local, state and national economies. It shows how new home construction and remodeling presently account for about 15 percent of the nation’s total economy, and how the financial issues are impeding production of new homes. The economic impact of home building includes construction of single-family and multifamily homes, remodeling and the countless products and services that are related to those activities.