There's Only One Reason To Own a Home Today
by Dennis Coleman
said that in America, we all have the dream of home ownership. Yet
no one ever quotes any study on whether this is really the best
for most or just what we have all come to believe we need to do.
If you search, you will find studies that point out that the only
real reason for owning a home is pride of ownership.
renting is a better option for economic growth for anyone who can
save. Nor is home ownership in a city something we as a nation have
done since our country came about.
out to get a good buy on one of the foreclosures that is available,
take time to figure out where we as a country are going and what
that means for you for home ownership.
We are currently
in a deep recession that the economists are loathe to call a depression.
Just what is a depression? I'll forego the joke distinguishing a
recession from a depression, although it is just as good a definition
as any. Looking for a definition of a depression will yield a large
number of differing definitions. There doesn't seem to be one definition
of a depression. However, we have had one period that later was
called a depression. Interestingly, the term depression was not
used to describe an economic downturn until "the great depression."
In the 1870s,
we had what has come to be known as the long recession. Then there
was the Great Depression. These two resulted in changes in our country.
After the 1870s,
we went from mainly farming to industrial. This required a change
in home ownership from houses on farms to housing in the industrialized
areas. After the 1930s (and World War II), we went from city centered
to the suburban sprawl that describes what we currently live in.
What changes will come from this current economic downturn?
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