Tuesday, June 15, 2021 / by Earl Gaddi
Owning a home has non-financial benefits
A large body of research from Canada and around the world finds homeownership contributes to higher levels of happiness and life satisfaction for homeowners and their families. And that results in a wide range of educational, health and socio-cultural benefits, which were laid out in the Canadian Real Estate Association (CREA)‘s recent white paper, The Homeownership Dividend for Canadians.
These non-financial benefits have spillover benefits to the broader community and surrounding civic fabric—all of which are positively linked to a culture of homeownership. These “positive externalities,” extend beyond the homeowner to the rest of society, regardless of demographics, ethnicities, incom ...