The lasting value of homeownership

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During National Homeownership Month that was in June, the housing industry celebrates the many benefits of owning a home. Despite the downturn in the housing market, families continue to seek to achieve the American Dream of homeownership and take their place among the more than 74 million Americans that own a home.

Home appreciation over the long term builds financial security for a family’s future. But most home owners don’t have to wait for the home’s value to increase to realize the financial benefits. Right from the first year, the majority of home owners are able to annually deduct the mortgage interest and property taxes they paid off their taxable income. This can mean thousands of dollars saved off a family’s tax bill every year.