ABSTRACT
In many countries, there is strong enthusiasm for home ownership. In the US, for example, home purchase is considered the American Dream. Home ownership is often identified as an economically efficient action as homeowners have a financial interest in their properties. They are more eager to maintain or enhance the housing value so as to increase their physical and emotional wellbeing as well as their level of satisfaction. Not in the same vein, however, home renters have shortsighted perceptions on local affairs. Many of them fall short on motivation in civic participation and have low social utility. On top of that, home ownership does not only provide a secure place to live, it is also perceived as a means to develop personal wealth which provides financial and economic security (Li 2015).
