April is new homes month

Sta­tis­tics show new home con­struc­tion cre­ates jobs, lo­cal tax rev­enue

The Covington News - - Local News -

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.

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