David Saks: Is the Cliche':"Buying a Home is the Best Investment You Can Make" Still True?

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Is the Cliche':"Buying a Home is the Best Investment You Can Make" Still True?

                                                                              wink

Does any assertion that "...buying a home continues to be one of the best investments a consumer can make" reflect the dismal implications of today's market? Many believe that it is, if you can crush the existing world of residential financing with good credit. How do you feel about this comment when you hear it?

There is so much yet to be seen, and many conditions, both good and bad, moving the direction of the market. Stay wide eyed !




David Saks



Time&Temp Memphis

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Comment balloon 7 commentsDavid Saks • March 18 2008 11:41AM

Comments

I still think a home is a great investment.  You may need to hold onto it a little longer than you used to, but  it's still a great investment.
Posted by Debi Ernst, GRI, e-PRO, Broker/Sales Associate (St. Charles County, Missouri - Prudential Alliance Realtors) over 11 years ago
David - dont you think that many people were 'flipping' homes whether they were investors or primary residence owners - everyone had a 'just sell it and buy something bigger' attitude while our parents and grandparents had the 'investment' attitude in the 80's, 90's once the millenium rolled around it was quite a different perspective of home ownership.  The bubble was going to shrink (i think burst is too dramatic) but it has gotten smaller and in some cases the 'flippers' did it to themselves...dont you agree?
Posted by JDo Doe over 11 years ago

Thanks for your comment, Debi.

Thanks for your thoughts, too, Nathan. I agree with Debi, that over the long haul, buying a home continues to be one the best investments. The itinerant buyer is in for a surprise, however. HR-3915 and other legislation threw water on the fire. Investors are quickly picking up on the opportunities in the failed subprime market. If you have the money and the credit, I'd put the math to work.

Posted by David Saks ((retired)) over 11 years ago
I  strive to live indoors, that seems to be a minimum expectation of having shelter, the fact that it's worth more after you buy it is a bonus, show me a stock, or bond you can live in and is worth more when you hold on to it and I'll buy one.
Posted by Steve Loynd, 800-926-5653, White Mountains NH ( Alpine Lakes Real Estate Inc., ) over 11 years ago
Tragically, Steve, when a neighborhood declines, like a company, so does the value of the home. Many thanks for taking the time to comment. Market data is picky.
Posted by David Saks ((retired)) over 11 years ago
For the long term I think for sure, YES. In some areas, right now, for the short term, it may make more sense for many to rent for a while & own later.
Posted by Susan Milner, Cape Coral Real Estate Broker, FloridaFutureAgents (Florida Future Realty, Inc.) over 11 years ago
Some markets seem to be pretty stable, Susan. My theory is that stability might be attributable to high or erratic property tax movement and wide periods of time before property reassessment or changes in value for taxation purposes occurs. Thanks for sharing your good thoughts.
Posted by David Saks ((retired)) over 11 years ago

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