Read the following article Home Ownership Luster Fading in U.S. from the Detroit News and tell us what you think. http://detnews.com/article/20110420/BIZ/104200328
With a decline in housing prices, people underwater in mortgages and the housing crisis being related back to the Great Depression have we lost our faith in real estate?
It is important for Americans with the means to continue investing in real estate as the market has hit near rock bottom prices and therefore continues to be a sound investment. The bursting of the real estate has scared of many Americans from becoming homeowners, however as we know home ownership still has many benefits over renting or leasing and therefore should still be encouraged among those who are able to afford it.
ReplyDeleteAmericans need to reconsider what a more realistic "American dream" should be. Home ownership is just not a feasible option for some people anymore!
ReplyDeleteI agree with Andrew. While I think home ownership can be an option for many people, I think there needs to be a realization that they may not end up in the home they WANT. A home is what you make it. A $500 toilet flushes the same as one from Wal-Mart. People need to be realistic when it comes to home ownership.
ReplyDeleteI do think that real estate will take a more appropriate role in our economy and investments now that the bubble has burst. Still an important role, but hopefully we won't be putting everything we have into buying a house we can't afford as a form of 'investment'. As the article says, real estate isn't risk free and we need to remember that!
ReplyDeleteThe median of 8 years for Americans to stay in their homes, like Richard and Andy, I think that owning a home may be something we take pride in, but it is more realistic to think and assume that we may not want to live in the same home for 50 or so years.
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