The study found that homeownership was linked to an increase in life expectancy of 0.36 years for Black male Americans and 0.42 years for White males, highlighting significant disparities in homeownership's impact on longevity.
Homeownership likely reduces housing costs and provides tax benefits, such as deductions on mortgage interest, contributing to increased wealth accumulation, which is essential for longevity.
Homeowners tend to have a stronger sense of community compared to renters, fostering social networks that are crucial for mental wellness and potentially health improvements.
With only 33% of millennials owning homes by age 30, compared to previous generations, the declining homeownership rates may jeopardize their longevity prospects.
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