rfenst wrote:Mine will, if only because it will be paid off in full. Next time there is hyperinflation in housing (e.g. 5-10 years from now) I amgoing to sell high and then rent until prices crash- like I wish i had this time around. My house is down 60% from its peak...
well, it will help fund my retirement if I sell after paying off the mtg in a way...instead of rent that would have vaporized it will be like I have been making monthly payments to the bank that I will be getting back when I sell. If the house goes up in value it will enhance my lifestyle in retirement. If not, then I got to live where I liked with a big rebate at the end. Maybe made no interest, but interest paid out was deductible and the principle comes back if the market is flat. But there was no promise of it being an investment that must turn a profit, just a home. Currently my house is worth more than I paid 11 years ago but I bought low at the time for what I have.
We must realize that part of the "market correction" is that we are finishing a cycle in which jobs and income were lost...purchases (especially huge ones like homes) slowed down... less product demand then caused more layoffs...
though not everyone will be happy, that cycle is reversing ever so slowly now. there has been hiring for a while and lots of newly lost jobs are actually government(s) related which people were demanding. But it is unlikely that the economy trend will bring back the housing cost frenzy that was artificial in the first place. Rising with the economy maybe, but rising insanely is doubtful...I hope.
Now if only colleges and health insurance could stay within the parameters of the normal marketplace...