April is new homes month
Statistics show new home construction creates jobs, local tax revenue
With today’s low interest rates and favorable economic outlook, more Americans than ever are purchasing one of America’s most sound investments — a new home.
During New Homes Month in April, the Newton County HBA is drawing attention to the economic, financial and personal benefits of owning a new home.
Homeownership and housing are essential to the strength and vitality of a nation; their value is virtually immeasurable.
It is the cornerstone of family security, stability and prosperity and strengthens our nation’s communities, encourages civic responsibility and provides a solid foundation from which American can work to support their families, enhance their communities and achieve their personal goals.
A crucial component in both the nation’s economy and individual financial security, new home construction and remodeling provide millions of jobs and generate billions of dollars in wages and tax revenues each year.
With interest rates expected to hover at historic lows and new home sales con- tinuing to post near record numbers, the housing industry is poised to remain a driving force in the nation’s economy.
According to statistics from the National Association of Home Builders, the construction of 1,000 single- family homes generates 2,448 jobs in construction and construction related industries, approximately $ 79.4 million in wages, and more than $ 42.5 million in federal, sate and local tax revenues and fees.
Homeownership strengthens not only the economy , but also the social fabric of any nation in the world.
By encouraging involvement in schools and communities and inspiring the upkeep and improvement of the home, homeownership fosters good citizenship.
Safe, decent and comfortable housing in general and homeownership in particular, are also a positive influence in children’s lives.
Children of homeowners stay in school longer and are more likely to become productive citizens, according to a study by the University of Chicago.
For a complete list of building industry professionals in our area please visit the Newton County Home Builders Association’s Web site www. n ewtoncountyhba. com. The member list is on the “ Resources” page.