According to the report Social Benefits of Homeownership and Stable Housing from NAR's Research Department, "Research has consistently shown the importance of the housing sector on the economy and the long-term social and financial benefits to individual homeowners. The economic benefits of the housing market and homeownership are immense and well documented. The housing secotr directly accounted for approximately 14 percent of total economic activity in 2009. Household real estate holdings totaled $16.5 trillion in the first quarter of 2010. After subtracting mortgage libailities, net real estate household equity totaled $6.3 trillion. 

In addition to tangible financial benefits, homeownership brings substantial social benefits for families, communities, and the country as a whole. (Source: Social Benefits of Homeownership and Stable Housing, August 2010.)