homeownership
nounUK /ˈhəʊmˌəʊnəʃɪp/
US /ˈhoʊmˌoʊnərʃɪp/
Homeownership means owning the house you live in.
After years of saving, they finally achieved homeownership.
OTHER MEANINGS
2. The state of legally possessing a home as property.
Homeownership comes with both rights and responsibilities.
3. The social and financial status of owning one's residence.
Homeownership is often seen as a sign of stability.
4. The practice or trend of people buying homes rather than renting.
Homeownership rates rose across the country last year.