Kamis, 08 April 2010

Belief in a Home as an "Investment" Continues, Even as U.S. Heads Toward Further National Price Declines

Mortgage Giant Fannie Mae just released its National Housing Survey (get all 117 pages here). At SeekingAlpha, financial blogger Felix Salmon examines Americans' stubborn belief that mortgage debt owning a home  is a wise use of one's money, important to the general economy, and necessary for personal wealth.  He writes, 
"(H)omeownership is...a drag on the economy, since it funnels resources

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