The New York Times recently ran a cover story headlined “Housing Fades as a Means to Build Wealth, Analysts Says”. The article states that amassing your nest egg based on the appreciation of your home may become a distant memory.
Time will tell whether that prediction is accurate. What the article fails to mention is that prior to the real estate boom and double digit appreciation, a house was purchased to be a home, not an asset class.
A home provided a safe haven for the family and a place where memories were created. Holidays and birthdays were celebrated in the home and terms such as yield, appreciation and return on investment were confined to stocks and bonds.
The new reality is that homeownership may no longer be the ticket to easy money, but it remains the gateway to security and stability, the backdrop of family photographs, and the venue of your lifestyle.
As a trusted real estate advisor to thousands Houlihan Lawrence provides transparent information and a network of experienced agents with insight that help homeowners and buyers ultimately make informed decisions.
Ownership of a home represents different things to different people. Do you think of your house as an investment vehicle or a home for you and your family?