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Eddie_George

Owner-Occupied Homes Pay Quantifiable Benefits For Neighborhoods

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Such behavioral patterns include the suggestion that dwelling and maintenance appearance is better kept by homeowners, that children raised in owned homes have higher graduation rates and cognitive abilities, and that homeowners are more civically involved in their communities. However, even these nonfinancial benefits have been called into question by more recent research.

According to the researchers, putting a dollar amount on the benefits of homeownership, in part, helps to justify the government subsidization that helps people in the United States buy homes. The desirability of such subsidies — including federal benefits such as the deductibility of mortgage interest payments from income as well as state- and local-level benefits — has been called into question in the wake of the recent economic downturn.

Coulson and Li assert that there should be a more compelling, quantifiable justification for the government subsidies that support homeownership. That more compelling argument, they write, is that “ownership creates external benefits; that ownership not only creates private benefits but also benefits for the neighborhood and broader community.”

http://news.psu.edu/story/299772/2014/01/10/research/owner-occupied-homes-pay-quantifiable-benefits-neighborhoods

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Compared to what? Highly insecure private tenancies in properties owned by get-rich-quick speculators like the Wilsons? There's more than one way to organise a private rental market.

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rentals are less looked after...BY THEIR OWNERS.

Indeed, an acquaintance was bemoaning a house on their street that was now being rented out, saying the painted exterior surfaces on the garage were looking very tatty and the tenants had not repainted it. Hard to know where to start.

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Indeed, an acquaintance was bemoaning a house on their street that was now being rented out, saying the painted exterior surfaces on the garage were looking very tatty and the tenants had not repainted it. Hard to know where to start.

Hope you did start, though, and put him firmly in the right? Every little helps.

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Er, the reason landlordism is socially undesirable is because land rent acts as a tax, which creates a drag on the economy. Worse, it's a regressive tax on the productive, paid to the unproductive, which massively distorts incentives in the economy.

Oh yeah but landlords also don't do the garden or paint the fence, got to focus on the important stuff!

Ironically, this fence painting was always an argument for the right-to-buy, which goes to show how much faux-market politicians actually understand the economics of housing.

Edited by (Blizzard)

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