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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Jack of All Trades who wrote (105824)5/31/2001 4:54:51 PM
From: Terry Whitman  Read Replies (1) of 436258
 
I don't see home prices falling much in most areas- certain local bubbles excluded of course. Easy Al stands ready at the clownbuck presses to make sure that doesn't happen. Only huge unemployment/layoffs would cause home prices to drop considerably. Homes may lose value in a relative sense though- mine has. It's value has not increased as much as inflation since I bought it in 1992. Still beats renting however.

Houses aren't really that great of an investment- they deteriorate over time, need expensive maintenance, utilities, property taxes, etc. The LAND the house sits on is the investment. The cost of holding raw land is minimal- and it's return nearly always beats inflation.
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