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TueJan 21

Own Your Own Home Day – January 21, 2025

Own Your Own Home Day is marked every year on January 21 to celebrate homeownership and raise awareness about the benefits of owning a home. Did you know mortgages weren’t common until the 1860s after the National Bank Acts were enacted? Mortgages have been the single biggest contributing factor to homeownership, and their evolution over the years has allowed more than 50% of Americans to own their home. 

History of Own Your Own Home Day

Before antiquity — between 30,000 B.C. to 15,000 B.C. — humans lived a hunter-gatherer lifestyle, moving from place to place without a permanent domicile. Caves were used for temporary shelter before the food search moved them to another area. Caves such as those at Giants Castle, Yaodong in China, and Pinnacle Point are believed by scientists to have served as shelters to our early ancestors. 

The Neolithic period ushered in an era where early modern humans settled down and built permanent homes and other structures. But homeownership wasn’t decided, as people had to defend what they owned from invaders frequently. It was basically the fight of the fittest. That led to the rise of tribal leaders, armies, and eventually monarchies, which served to help protect properties.

With the industrial revolution came mortgage lending by banks to the average person. However, mortgages didn’t become commonplace until the 1860s, when the National Bank Acts was enacted. That led to more people buying, selling, and owning homes.

In the 1930s, the Great Depression hit, and the housing market came crashing down, with many homeowners defaulting on mortgages. Between 1933 to 1938, the U.S. government introduced the Home Owners’ Loan Corporation, the Federal Housing Administration, and the Federal National Mortgage Association to stabilize the housing market. By 1950, more than 50% of Americans owned their homes. Over the years, this number has been growing steadily. But the downside is that with increasing demand for houses, the price for owning a home has also increased.

Own Your Own Home Day timeline

30,000 B.C. – 15,000 B.C.
The First Homes

In the Prehistoric period, early modern humans use caves as shelter.

The Rise of Mortgages

With the stabilization of the U.S. banking system, banks start giving the average person high-risk mortgages, leading to an increase in homeowners.

The Impact of the GI Bill

The creation of the GI Bill helps spur the housing market and leads to building one-fifth of all single-family homes after World War II.

Housing Market Boom

The boom of the 1940s to 1950s allows more than 50% of Americans to own homes.

Own Your Own Home Day FAQs

Why is it better to own a home than rent?

Owning a home is cheaper than renting a house in the long run. While buying a home is expensive initially, it is cheaper than renting when considering the yearly rental costs that are bound to increase due to market factors.

How long does it take the average person to buy a house?

According to realtors, it takes four to five months to buy a house. That entails two to three months to check house listings and pick out your preferred home and 1 to 2 months to start and close the contract process.

How long do most houses stay on the market?

According to, it takes an average of 25 days for houses to sit on the market, minus the 30 to 45 days to close the buy offer.

Own Your Own Home Day Activities

  1. Buy a home

    What is a better way to celebrate Own Your Own Home Day than to buy a home — that’s if you don’t have one. The first step is to check out house listings. You can do that on realtor websites or by contacting a real estate agent. Once you find the one that meets your needs, secure it with a down payment. If you don’t have the money to buy a home, you can explore the option of taking credit or saving for it.

  2. Have a mini-thanksgiving

    Like we mentioned earlier, it’s not exactly easy to own your own home. The stress, the hassle, and the cost are hardly rivaled. That is why you have to use this Own Your Own Home Day to celebrate your homeownership. Gather friends and family and have a barbecue in your own front yard or backyard.

  3. Learn about the history of homeownership

    Our history of homeownership should help you get started. You can research how we moved from living in caves to building permanent or semi-permanent domiciles. The B.B.C. podcast on the history of the home can also offer you a helping hand in your research.

5 Interesting Facts About Mortgages That Might Surprise You

  1. Many homebuyers use mortgages to buy homes

    Statistics provided by the National Association of Realtors show that 88% of homebuyers rely on a mortgage to buy their homes.

  2. Mortgage is nearly synonymous with death

    Mortgage originates from the Old French word ‘morgage’ or ‘mort gaige,’ meaning ‘dead pledge.’

  3. A red front door implies mortgage-free

    In Scotland, people paint their front door red once their mortgage is completely paid.

  4. Most people don’t know about mortgages

    A study conducted by C.N.N. Money revealed that over one-third of Americans did not know about the annual percentage rate or lending rates or fees.

  5. The rich also have mortgages

    Mark Zuckerberg currently pays 1.05% interest on his $6 million home.

Why We Love Own Your Own Home Day

  1. Homeownership helps save money on taxes

    When you own a home, you can deduct part of your expenses from owning the home from your taxes. That includes mortgage interest and interest on home-equity loans or home-equity lines of credit.

  2. Homeownership helps you build equity

    Equity is the difference between the actual value of your home and how much you still owe on your mortgage. As you pay your mortgage, your home equity increases since homes appreciate. That is in contrast with renting, where you continue paying without actually owning anything.

  3. Homeownership helps you build a solid credit history

    Having a good credit history makes lenders more willing to offer you loans for future projects or expenses. By owning a home and consistently paying the amount you owe on your mortgage, you can potentially build a solid credit history.

Own Your Own Home Day dates

2025January 21Tuesday
2026January 21Wednesday
2027January 21Thursday
2028January 21Friday
2029January 21Sunday

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