All Commentary
Monday, August 23, 2010

Homeowners Counseled Not See House as Investment

“Housing will eventually recover from its great swoon. But many real estate experts now believe that home ownership will never again yield rewards like those enjoyed in the second half of the 20th century, when houses not only provided shelter but also a plump nest egg…. ‘There is no iron law that real estate must appreciate,’ said Stan Humphries, chief economist for the real estate site Zillow.” (New York Times)

It took a government-created crisis to teach that lesson.

FEE Timely Classic
“Financial Crises and the Federal Reserve’s Punch Bowl” by Chidem Kurdas