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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: KyrosL who wrote (87465)	8/29/2007 12:54:25 AM
From: John Vosilla	Respond to of 306849

'Most home improvements worsen the long term cash flow of the homeowner, not even counting the original outlay for the improvement. Many times they result in higher tax, insurance, furniture, etc. bills. IMO, most home improvements are consumption rather than investment' Your home is a liability in periods of flat to declining values where you are leveraged up to your eyeballs in part due to home improvements. I agree 100% with LIG..it really doesn't matter much to these people how they spent the money..it is gone even if it all went into a new kitchen as in 5 years it will be dated again anyway and add little relative value to the home.. Meanwhile the debt with interest will be insurmountable for many to ever recuperate from.