Are you becoming wealthy on your house? Is your home your best performing investment? Is your house the only area that of your investments in which you are making money?
Red danger signals should be appearing in your mind. The housing market has gone up, up and up. Many people believe that they have made x dollars from their house. Is this true? Is this realistic? Will they ever be able to see or use their new found wealth?
It is true that. Even in 2004 it was said that housing prices had risen the most in 2004 in the past 25 years that the OFHEO price increase was 13.4 %. Prices have been double digit and seemed to be able to go up and up forever. Indeed the price run-up from 1997 to 2006 was the largest in history.
What fueled this seemingly endless run-up in housing prices? The answer in 3 words was low interest rates. China it seems wanted to maintain high employment figures for political and economic reasons. In order to maintain high employment levels the price of Chinese goods at Wal-Mart or wherever had to remain low. If the Chinese currency remained low relative to the U.S. dollar or if the U.S. dollar remained at relatively high levels in...
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