Friday, January 11, 2008

Are Americans Forgetting The Reasons Why They Have Become Homeowners?

Yesterday I was listening to NPR radio when one of their guests was making a comment about one of the “emerging” reasons why Americans are losing their homes to foreclosures that strike my mind. The guest (I could remember his name) was talking about the mortgage crisis and foreclosures when suddenly he said something that even for me is hard to admit.

He said that many homeowners are now losing their home not because of the traditional causes like, unemployment, unexpected death in the family or illness not event to the infamous ARMs, no. They are voluntarily giving their homes back to the investors simply because they feel it make no senses to keep paying for a home that had lost must of its value and equity compared to the time when they purchased that very same home. That under the current circumstances they felt they were better of just go renting for a while.

God, are we forgetting why we buy a home in the first place? That a house is just a long time investment that happens to be our shelter, and as all investments, they can go up and down on value depending on the real estate market, that it is a mistake if we want to handle our homes as it were the same as a “wall street” investment.

We all know the phrase“ The home is the single biggest investment a person can probably do” a single biggest INVESTMENT. Let’s not forget that! If we continue, misleading our communities by telling them that homeownership is a “right” that all man must buy a home and not accepting the fact that homeownership is not for everyone, that there are people perfectly happy livings in a rental community, the real estate market as we know it will be doom.

Can you share what are the main rezones you are telling your clients why they should buy a home?

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