The thing about ownership, whether it is a home, a car, or some other material object, is that how we treat it, really comes down to whether we value it or not, and that which we have a stronger tendency to value is that which we believe is wholly ours. So then, in consideration that all of us need to live in a place that provides us with shelter, heat, electricity, and all the other basic accouterments that we pretty much take for granted, it isn’t too surprising that those that live in a home that they own are going to be not only more stable by virtue of having that ownership, but are the same that are going to take better care and to value that home at a higher level, then somebody that has no ownership, as in a renter. This is therefore a very important reason why home ownership is significant: because it provides those with that ownership a stake in their community, for most people who own their homes are the same people who are determined to see that their neighborhood is safe, sound, and comfortable to live in.
The thing about those that rent isn’t necessarily that they are irresponsible, though some are, but really comes down to the fact that they know that they don’t own that home, and therefore these are the same people who are going to have a strong tendency, in things both small and big, to not pay any real mind to that which needs some proper care, maintenance, or repair, because at the end of the day, it isn’t theirs. So too, those who are renters are going to tend to be rougher on things within a home than they would if they own it, because it isn’t theirs, so they don’t have the same type of concern that they would have if it were theirs.
Additionally, in absence of some sort of stringent rent control or its equivalency, renters are subject to monthly or yearly lease agreements with an increase in rent being a quite common occurrence, which permits them though to exercise their right to move out, and oftentimes they do that very thing, when their personal situation changes for the better or for the worse, and also because they have found an alternative that they believe suits them better or is their preference. Indeed, just the knowledge that renters have that they have only signed up for a finite amount of time, changes the mindset of how they look upon things, and makes them to be far more hesitant to do anything constructive about the conditions of the home or the neighborhood when they already know that they aren’t going to stick around.
It's human nature to care more for that which we have ownership of as compared to that which isn’t ours. So, when it comes to home ownership, neighborhoods that have a high percentage of owner occupied homes are typically going to be neighborhoods that not only look better than those that are made up of a higher percentage of renters, but also the people that live there are going to be more engaged, because not only do homes cost a lot of money, but also because people treat that which they own better and care more for it, because it is, in a lot of respects, a reflection of who they are.