After Five years in this miserable housing market I am starting to think that maybe we should change the name of home ownership from the American Dream to something more palatable? Surely there must be a better term for something so difficult to own?
I understand that owning a home these days is something of a nightmare for those who bought during the height of the market and they are probably suffering terribly. Are these folks going to bed dreaming anymore or waking up in the middle in of the night in a cold sweat after another housing nightmare? There is help for everyone that is underwater, but in the meantime lets not kid ourselves, especially as realtors, into thinking that this is still a dream.
As far as I am concerned home ownership is really more either a very good or very bad business decision after all is said and done. Nobody stays in their homes forever these days, so to think that you should base you purchase on that alone is just stupid. If you base it on price alone too, that is even dumber. After going through the list of things that make up a sound social and mental decision for your purchase like schools, neighborhood, etc., one should then take into account the exit strategy. Will my home go up in value? Is this a neighborhood that will be attractive to other buyers? Does this home need or will need additional work in the future? Is the house situated in a good spot like a cul de sac? How sound, efficient, and consistant is the HOA? I think you are seeing where I am going here.
If you do not have an exit strategy as a homeowner you are only setting yourself up for disaster. A home can still be a dream, but I think it's time for a change. The feds need to stop trying to sell the public on it too. I know realtors do not want to hear this, and I am one of them, but it is time to face real estate reality and just call it an investment in the future. If any of you have a better name or phrase keep them coming. 
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