f you asked

most Americans what makes up the proverbial "American Dream,"

in addition to listing a successful career and a happy, healthy family,

they would likely also include "owning a home."

Achieved by

more and more Americans each year, homeownership is a symbol of success

and gives a family self-esteem. It represents security and gives people

a place to escape their on-the-go lifestyles.

Homeowners

form bonds with one another, feel a part of their communities and have

a stake in what goes on in their neighborhoods.

A recent study

that homeownership has a positive impact on our nation's children. Children

who live in owned homes achieved seven percent higher in math and six

percent higher in reading, and they had four percent fewer behavioral

problems.

We recently

witnessed the annual celebration of National Homeownership Week, which

provides us an opportunity to reflect on the amazing stability and comfort

our homes provide us and the positive effects homeownership brings to

our neighborhoods.

This week is

also designed to attract the attention of potential homeowners to the

steps needed to achieve this part of the "American Dream." Additionally,

we are reminded and encouraged to continue to search for new ideas to

expand homeownership opportunities.

National Homeownership

Week is celebrated by organizations all over the country, including lenders,

real estate professionals, home builders, non-profit housing providers

and federal, state and local governments.

Hundreds of

projects aimed at increasing homeownership go on all across the country

during National Homeownership Week.

NAHB members

contribute in their own innovative ways, like donating labor and materials

to build homes in neighborhoods that need revitalization; holding homebuyers'

fairs where potential home buyers can attend educational seminars, meet

builders, lenders, title companies and credit counselors; and urging their

local governments to officially proclaim "National Homeownership

Week."

Turning this

spotlight on the importance of homeownership has yielded positive results.

According to the Homeownership Alliance a national coalition comprised

of consumer groups, independent bankers, home builders, low-income housing

advocates and other organizations that are concerned about homeownership

after declining during the 1980s, the homeownership rate continues to

increase and last year hit an all-time high of 67.5 percent - which means

that more than 71 million American families now own their own homes.

And, in the

past seven years, homeownership has increased amongst minority and lower

income Americans the homeownership rate for African Americans rose from

42.5 to 47.5 percent and from 41.2 percent to 46.1 percent for Hispanic

Americans. Additionally, the rate for female-headed households increased

from 48.7 to 49.1 percent.

However, these

groups are nearly 20 percent behind the national average. Affordability

issues are also a concern in high-growth, major metropolitan areas where

people are forced to commute significant distances because they cannot

afford to live in communities closer to their workplaces. Also, the homeownership

rate among young households is still below the peak that it reached in

1979. So, while we have a lot to be proud of, there is still much work

to be done.

Home builders

are working with housing finance innovators, consumer education organizations

and government officials to make homeownership an affordable dream for

every American. We are committed to searching for new ways to expand homeownership

opportunities as we begin this second century of evolution in the housing

industry.

For more information

on National Homeownership Week activities and projects, visit www.homeownershipalliance.com .

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