This is an in-depth look at all the must-know facts about National Homeownership Month (2024) 🗓️ that no one tells you about. National Homeownership Month is celebrated on June 1st.
Among the information you’ll find below: the history of National Homeownership Month, activities to do on and how to observe this holiday, as well as interesting facts you ought to know about National Homeownership Month.
📅 What day is National Homeownership Month 2024?
In 2024, National Homeownership Month is on Thursday, June 1st. It is the 1st Thursday in June; in 2024, it is Saturday. There are until the next observance. You also can learn all the cool details and facts about June 1, 2023, that you might not be aware of.
June is a special month dedicated to celebrating and promoting the importance of owning a home. It acknowledges the positive impact that homeownership has on families, communities, and neighborhoods nationwide. It emphasizes that becoming a homeowner is a way for individuals to fulfill the American dream. Furthermore, this month serves as an opportunity to showcase the various advantages of owning a home, potentially motivating others to pursue homeownership as well.
📜 National Homeownership Month History
During the Great Depression, banks had no money to lend and people lacked cash, making it difficult for them to buy homes and make loan payments. To address this, the American government established organizations like the Home Owners’ Loan Corporation, Federal Housing Administration, and Federal National Mortgage Association, which helped regulate the housing market and prevent its collapse.
The G.I. Bill of 1944 had a significant impact on the housing industry and the American economy by offering discounted mortgages to World War II veterans. The Fair Housing Act of 1968, signed by President Lyndon B. Johnson, outlawed housing discrimination based on various factors, coinciding with Martin Luther King Jr.’s death.
Throughout its 87-year history, the Federal Housing Administration has prevented a loss of over $4 trillion in household wealth in America, benefiting more than 44 million people who became homeowners.
To promote homeownership, President Bill Clinton initiated National Homeownership Week in 1995, which was later expanded by President George W. Bush to National Homeownership Month in 2002. This annual celebration reminds people that owning a home is an essential part of achieving the American dream.
✅ National Homeownership Month Facts
🔖 Pay for housing
Based on the 2016 Consumer Expenditure Survey, the typical American household allocates around $1,573.83 every month towards housing expenses.
🔖 Equal then, more now
If the rate of black homeownership remained at the same level as it was in 2000, there would be an additional 770,000 black homeowners in the United States today.
🔖 The burden of cost persists
In the United States, approximately 39.7 million families out of the total 119 million families are considered cost-burdened, as their housing costs and other expenses exceed 30% of their income.
👍 Why Is National Homeownership Month Important
Homeownership broadens your future choices. You might plan to sell and profit, or you can use your home equity to cover other large bills.
Homeownership is inextricably linked to the economy. When house sales increase, so do job opportunities. These forces, when combined, lead to a stable economy at the local, state, and national levels.
Homeownership increases a person’s investment in their community. Participating in activities and volunteering for charities and other events creates a much stronger sense of belonging than simply renting.
🙂 How To Observe National Homeownership Month
⚡ Get your community involved
Engage in a community service project by either making a plan or actively participating. This could involve constructing a shelter, coordinating a donation campaign, repairing a playground, or engaging in any other activities that contribute to the betterment of your community.
⚡ Showcase local projects to officials
Extend an invitation to local politicians, be it through virtual means or in person, to visit your vicinity. During their visit, showcase and educate them about the latest advancements in sustainable building methods and contemporary technologies employed in recent home developments.
⚡ Educate local home buyers
Plan a housing forum, either virtual or in-person, with the aim of facilitating a conversation between the general public and experts in the field to address the housing situation specific to your locality. These housing specialists could include individuals like a college economist, mortgage banker, or realtor.
📅 When is National Homeownership Month?
| YEAR | DATE | DAY |
| 2024 | June 1 | Saturday |
| 2025 | June 1 | Sunday |
| 2026 | June 1 | Monday |
| 2027 | June 1 | Tuesday |
| 2028 | June 1 | Thursday |
Explore all 🔗 June holidays, including 🔗 Special Interest and other 🔗 Appreciation holidays.
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