HUGHESVILLE, Md. – The month of June is widely recognized as National Homeownership Month. The month-long recognition serves as, “an opportunity to discuss the importance of the ‘American Dream’ of homeownership across the country but also gives us a chance to discuss some of the hurdles that people face when trying to achieve that dream,” Michael Funk, the 2022-23 President of the Southern Maryland Association of REALTORS (SMAR), told The BayNet.
The proclamations for St. Mary’s County and Charles County were both held during each of the Commissioner’s meetings on June 13, 2023. The proclamation for Calvert County will be held during their Commissioner’s meeting on June 27.
“We are ecstatic that all three of the Southern Maryland counties have chosen to recognize not only the many local homeowners but to present these proclamations to our organization and recognize SMAR’s members for their commitment to fostering and facilitating homeownership for more than 50 years,” Funk stated. “We are proud to have so many members who have made a difference in the lives of so many people in Southern Maryland and continue to do that regardless of what the market is doing.”
Funk also went into detail about how many realtors will use Homeownership Month as an opportunity to promote some of the important statistical data about homeownership, such as how the national homeownership rate has grown in recent years to roughly 65-66% and is even higher in some of our local jurisdictions. Many agents will also use it as an opportunity to focus on getting information to first-time home buyers, to help improve that homeownership rate for years to come.
Funk also provided ideas on how to improve current homeownership rates.
“One of the best ways to improve the homeownership rate, is to talk about homeownership and to talk about the benefits, opportunities, and resources out there to assist prospective homebuyers throughout their journey,” Funk explained. “Unfortunately, we are facing many burdens now that are drastically slowing down our progress. We still have a record shortage of homes available for purchase, specifically for middle-class buyers, and that has severely limited access to the residential real estate market. A report from the National Association of Realtors last year found the U.S. has developed a national “underbuilding gap” of 5.5 million housing units over the last 20 years. This translates into a $4.4 trillion underinvestment in housing. Our housing shortage is constraining homeownership opportunities for too many people. We need to continue providing housing options and new developments for all socioeconomic classes, incentivizing homeownership when possible, and working to effect changes that will improve interest rates and improve the housing shortage we are faced with.”
“Achieving homeownership and owning private property is a crux of the American Dream. Buying a house is the largest purchase that many people will make during their lifetime, and should be something that is celebrated. Owning a home gives people a sense of pride and independence, and this month is just one of the small ways we should recognize the millions of homeowners across our country…As realtors, we strive to ensure all Americans have the opportunity to achieve homeownership, the centerpiece of the American Dream and the pathway to economic well-being and intergenerational wealth-building. SMAR is proud to have members who are helping grow homeownership in Southern Maryland, and are excited to continue that trend for many years to come.”
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For Christ sake…the count commissioners damn well ought to “recognize homeowners”, the commissioners tax the snot out of homeowners…