Investing Home Prices Fall In Majority Of The Biggest Markets
If you have owned a home, or any piece of residential real estate including condos, and vacation homes than you are aware of the run up in prices that occurred for a five year period that ended more than a year ago. In terms of investing, owning a home for half a century has been a wonderful way to build wealth. It is one of the few investing methods where you could actually live in your investment, while it increased in value. Most investors are not aware that from World War II until last year, there was never a single year where home prices fell on a national level, until last year that is.
Homeowners have counted on a steady annual increase in the price of the house they were living in to create a wealth effect. For many, it was their only source of forced savings. It was also a participation in the American dream owning your own home, and living in it.
Studies are now available which show that at the end of last year, a number of housing markets declined. Actually, 149 different markets experienced the decline. Hardest hit were the East and West Coast of the US, and the Northeast...
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