June is National Homeownership Month. Surprisingly, there does not appear to be a greeting card for that. You would think there would be — or at least there should be from our perspective.
Homeownership and everything that goes with it accounts for about 12% of our gross domestic product in the United States. That is something to celebrate. But outside of those White House staffers that were responsible for preparing George W. Bush’s 2002 presidential proclamation that June is National Homeownership Month, it doesn’t seem to have gained much traction.
Sure, it hasn’t been the best 16 years in American history to be a homeowner — but it is still a positive thing. More than ever it is an accomplishment. It should be a celebration. But these national “months” seemingly get lost for some reason. Maybe it does not need to be a national celebration, but it should be what it was meant to be: the opportunity to promote homeownership and increase awareness.
Not an easy task — especially this year. While it is a good time to be a current homeowner, it is not the most opportune time to be looking to become one. Inventory is incredibly weak and home prices and interest rates are making homeownership less affordable. And while demand is high, it is not high for the right reasons — not sustainable reasons that are good for the market. That is why it is more important than ever to not only promote homeownership, but to look for sustainable ways to create opportunity.
While we didn’t wait to launch our beyond by Embrace Home Loans™ program until National Homeownership Month, it does the things the month was meant to honor. The innovation behind this program brings affordable financing opportunities to a variety of potential homebuyers with “unconventional” needs not well-served by many lenders. It is a product offering that brings opportunity to many potential buyers today and more importantly, serves and will serve the needs of those in what is an ever-changing socio and economic landscape. Call Embrace to talk about where we are with beyond and the opportunity it represents for tomorrow.