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Own Your Own Home Day 2024: Date, History, Activities and Significance

Own Your Own Home Day 2024 honors homeownership and highlights its benefits, with mortgages contributing to 50% of American home ownership since the 1860s National Bank Acts.

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Own Your Own Home Day 2024: Every year on January 21, we observe Own Your Own Home Day to honor homeownership and spread the word about the advantages of being a homeowner. Did you know that until the National Bank Acts were passed in the 1860s, mortgages were uncommon? 50% of Americans currently own a home thanks to mortgages, which have been the single largest contributor to homeownership throughout the years.

Own Your Own Home Day History

Prior to antiquity, which occurred between 30,000 and 15,000 B.C., humans were nomadic hunters and gatherers who did not have a permanent home. Before they were forced to relocate in search of food, they temporarily took refuge in caves. Scientists hypothesize that our early ancestors used caves like those at Pinnacle Point, Yaodong in China, and Giants Castle as shelter.

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Early modern humans began to settle down and construct permanent dwellings and other structures during the Neolithic era. However, as people constantly had to defend their possessions from invaders, homeownership was not decided. In essence, it was a battle of the strongest. As a result, tribe chiefs, armies, and ultimately kingdoms rose to power and helped defend the territory.

The Industrial Revolution brought bank financing to the general public for mortgages. However, it wasn’t until the National Bank Acts were passed in the 1860s that mortgages became widely used. As a result, more people bought, sold, and became homeowners.

When the Great Depression struck in the 1930s, the housing market collapsed and many homeowners were forced to default on their mortgages. To stabilize the housing market, the United States government established the Federal National Mortgage Association, the Federal Housing Administration, and the Home Owners’ Loan Corporation between 1933 and 1938. By 1950, over half of all Americans had a home. This number has been gradually increasing over time. However, the drawback is that as housing demand has grown, so has the cost of home ownership.

Own Your Own Home Day Activities You Own

Purchase a house

Purchasing a home, if you don’t already own one, is the ideal way to honor Own Your Own Home Day. Checking through real estate listings is the initial step. You can contact a real estate agent or look it up on websites for realtors. Make a down payment to reserve the one that best suits your needs once you’ve found it. You might look into taking out a loan or saving money if you don’t have enough cash to buy a house.

Enjoy a little Thanksgiving

As we have stated, being a home owner is not an easy feat. It’s hard to compare the tension, the difficulty, and the expense. For this reason, you must celebrate your homeownership on Own Your Own Home Day. Organize a cookout in your front or backyard with your loved ones.

Study up on the background of homeownership

Our track record of home ownership ought to assist you in getting going. You can study how we made the transition from cave dwelling to semi-permanent or permanent housing. You can also get assistance with your study from the B.B.C. podcast about the history of the home.

5 Facts about mortgages that may surprise you

  • According to data from the National Association of Realtors, 88% of buyers purchase their houses with a mortgage.
  • The word mortgage comes from the Old French word “morgage,” sometimes known as “mort gaige,” which means “dead pledge.”
  • When a mortgage is paid in full, people in Scotland paint their front door crimson.
  • More than one-third of Americans were unaware of the annual percentage rate, lending rates, or fees, according to a C.N.N. Money study.
  • At the moment, Mark Zuckerberg pays 1.05% interest on his $6 million house.

Shine a Light Night 2023: Date, History, Facts about Houses

Why Own Your Own Home Day Is So Great

Being a homeowner reduces tax obligations

When you buy a property, you can write off a portion of your mortgage interest on your taxes. This covers interest on home equity loans and home equity lines of credit, as well as interest on mortgages.

Having a home helps you accumulate equity

The gap between your home’s true value and the amount you still owe on your mortgage is known as equity. Your home equity grows as you pay down your mortgage because properties gain in value. That’s not the case with renting when you keep making payments but don’t own anything.

Having a home enables you to have a strong credit history

A strong credit history increases the likelihood that lenders will provide you with credit for upcoming needs or projects. Possessing a property and making regular mortgage payments will possibly help you establish a good credit history.


Year Date Day
2024 January 21 Sunday
2025 January 21 Tuesday
2026 January 21 Wednesday
2027 January 21 Thursday
2028 January 21 Friday
Farheen Ashraf
Farheen Ashraf
Farheen Ashraf is a History graduate. She writes on a variety of topics, including business, entertainment, laws, poetry, stories, travel, and more. Her passion for writing has led her to explore a variety of genres.

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