From Peter Reagan
The “American Dream” of home ownership is already out of reach of most Americans, thanks to the 50% increase in home prices over the last couple years. Homeowners who’ve purchased since the beginning of the most recent housing bubble are already regretting their decision, based on the chaos in the housing market.
Why does this matter?
It’s hard to overstate the importance of housing in the U.S. economy. For nearly every American family, their home is their single biggest asset.
Now, we don’t generally think of our homes as an “asset” because we live in them. We usually think of them as a necessity that happens to have a market value.
However, most American families actually do treat their homes as financial assets. For example: Continue reading “Why the Housing Market Is About to Get Much Worse”