Home ownership should continue to be a major part of the American Dream for as long as America exists! The roots of our country began with putting a stake in the ground and having a place of our own. The benefits are financial, pride of ownership and planting roots.
All of the negative news about the real estate market and future of home ownership not being the future American Dream are essential and will lead to a strong, lasting real estate market. This will also help bring back home buyers and owners that are committed and qualified to own a home. The days of anyone that can sign on the dotted line should own a home are long gone now!
Americans will buy homes for two reasons, a place to live or an investment. The more people that give up on home ownership will lead to higher rents which will lead to a better investment and thus home prices will rise. Home buyers that buy for a place to live will now be more qualified and understand that the mortgage must be paid first.
Negativity is essential to make the current real estate recovery a true and lasting one. The more obstacles to the recovery the more committed the buyer. We need to end the roller coaster ride where home prices suffer the continuous boom and bust. Slow steady rising prices are the key. Once home prices stabilize an annual rise of between 5 - 7% would be healthy.
Your Friend & Realtor,
Tony Lewis * RE/MAX of Valencia www.TonyLewis.com tonyglewis@yahoo.com 6601-702-4720
Comments(2)