Home Ownership and Changing the Dream

Not long ago, owning a home was considered the “American Dream.” Today however, people are disenchanted with the idea of homeownership. The New York Times article entitled “Housing Index is Expected to Show a New Low in Prices” interviews people who choose to rent and adapt their investments in the midst of a housing slump sometimes compared to the Great Depression.

Unemployment, foreclosure and underwater mortgages have led many to prefer renting and pursue investments that don’t involve residential real estate. Investors have become more creative as they search for new markets with more secure returns.

As the housing market struggles to right itself, the advantages of renting and new investments strategies have become more accepted, according to the article. For those deciding what to do in terms of real estate and investing, here are some coaching tips to keep in mind:

  • Look into investments which are more secure. Currently, gold and other precious metals are highly sought after. Also, try looking into stocks in the S&P 500.
  • Reevaluate your future plans when finding a new place to live. If you don’t want to be tied down to one location, renting may be more preferable then owning.
  • The housing ebb is a buyer’s market. Potentially, you can purchase a house with the plan to sell when the market regains.
  • Always consider speaking to a professional. There are numerous companies that offer experienced advice and help look for other investment opportunities.

It’s difficult for experts to predict the market within the next few years. However, making decisions based current information can help when deciding where to live and what to invest in.

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