After all, at the peak of the bubble five years ago, Time had a different take. "Home Sweet Home," declared its cover then, as it celebrated the boom and asked: "Will your house make you rich?"
But it's not enough just to be contrarian. So here are 10 reasons why it's good to buy a home.
I like this article because I think the point it is trying to make is that we need to start spending...
ReplyDeletePeople have money; unfortunately it is my belief that people are waiting for someone else to jump into the water before they do. People/firms are saving, they want to be prepared for any double-dip recession we may have. To fully get out of this mess people need to start spending.
With housing incentives that are setting record lows, this article is telling us to ignore the rumors and invest in a home.
The point may be to start spending, but this article is also trying to persuade people to buy houses. If you have money, this is the perfect time to buy a house. Why? Because many home owners are selling houses at relatively low prices because the housing market is so bad. Also, if someone does buy a house, he or she will get a good deal on mortgage payments.
ReplyDeleteThe mortgage rates are as low as they have ever been because of the dramatic surplus in the supply of housing. This, to me, would seem like an ideal time to purchase a house as the mortgage payments are at an all-time low and eventually the market will clear and the supply demand will have to meet. This will allow prices to rise up and eventually the cost of your house will start increasing. However, the housing should not be bought with the intention to make money off of it as, in the current economy, thats not likely to happen.
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