Reality: Universal Homeownership Is Not a Good Thing

NMHC Research and White Papers

• Brochure: Toward a More Balanced Housing Policy
  Outlines why apartments are part of a smart housing policy and provides five principles of a balanced housing policy. (July 2000)

• Research Notes: The High Cost of Short-Term Homeownership
  Homeownership is not always a "can't miss" investment. Consumers who sell within four years may be beter off renting. (December 1997)

• White Paper: Pushing Back on Homeownership
  Summarizes recent third-party research raising concerns about the nation's aggressive homeownership incentives. (March 2005)

• NMHC Research: High Homeownership Rates May Lead to Higher Unemployment
  States with higher homeownership rates have higher unemployment rates, according to this report. Suggests homeownership may constrain labor mobility and thus lead to higher unemployment. (January 2000)

• The Rhetoric and Reality of Homeownership
  While homeownership holds many attractions for individuals and communities, the pro-ownership rhetoric from government officials and business interests typically goes way beyond the facts. The benefits of homeownership often are overstated, and important drawbacks usually are ignored.

What Others Are Saying: Third Party Research

• Crisis in America's Housing: Confronting Myths and Promoting a Balanced Housing Policy
  Report by 12 national organizations rebutting what they call the most prevalent myths "undermining a balanced housing policy in Washington," including the idea that "homeownership is the best housing option for everyone, all the time, everywhere." (January 2005)

• House Bias: The Economic Consequences of Subsidizing Homeownership
  Article by budget and tax expert, Stephen Slivinski, reviewing the downsides of widespread homeownership. Published by the Federal Reserve Bank of Richmond (VA). (Fall 2008)

What Others Are Saying: Articles

• Public Radio's Marketplace: Maybe home ownership's not for everyone
  Commentary by former Bush speechwriter who questions whether the price we’ve paid to push our homeownership rates higher. Points out several economic advantages renting offers households. (March 21, 2007)

• National Public Radio: The Advantages Of Renting
  Weekend Edition interview that explores whether the government's promotion of homeownership is really in the U.S.'s best interests. Author Richard Florida says, "Renting may make sense not just for people who can't afford to buy a house, but for people whose careers require flexibility - and for an economy that's built on our flexibility, single family-owned housing may be a bit inflexible." (September 21, 2009)

NMHC Advocacy Tools and Information

• NMHC's Balanced Housing Policy Initiative

• Presentation: Apartments - The New American Dream?
  Article and PowerPoint presentation explaining why apartment living is becoming more popular among households who can afford to buy. Provides statistical evidence and reasons why the trend is likely to continue in the future. (Updated April 2004)