The long-held belief (some call it a myth) that homeownership is a sure-fire ticket to building wealth and equity might be changing, according to a recent survey from the National Foundation for Credit Counseling.This is typical rear-view mirror thinking. Although the bubble has not vanished, prices are definitely better than when everyone was going gaga four years ago.
Nearly half of those surveyed no longer think owning a home is a realistic tool to build wealth.
Consider it a by-product of the housing crisis, as millions of Americans face plunging home values leaving many stuck with a house worth less than the mortgage. ...
“It appears that whether a person was directly affected or not, Americans’ attitudes toward homeownership have shifted,” said Gail Cunningham, a spokeswoman for the nonprofit credit counseling organization.
Wednesday, July 01, 2009
Americans unenthusiastic about financial benefits of homeownership
This news is actually about a week old, but I've been slow: