Thursday, August 14, 2008

change in sentiment re:housing

houses are beginning to be seen as liabilities, not assets.

they went straight from being the centerpieces of get-rich-quick schemes to being a huge burden to be avoided because they constrain lifestyle choices and reduce mobility.

it is just one article, but it is a sign of the times. and this sign is pointing to the increasing possibility that housing prices will over-correct before returning to their historical (inflation-adjusted) price range.

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