04/2011 – Positive Housing News… Sure
It has been a long time since any major magazine or newspaper has had anything positive to say about the housing market. Unfortunately over past 4 years, continual bad housing news has continued to create more and more bad news. It is an endless cycle of negative news. I think it is time to end that cycle.
There was a great article in Fortune magazine this month (April 2011). Author Shawn Tully says,” Forget stocks. Don’t bet on gold. After four years of plunging home prices, the most attractive asset class in America is housing. It’s time to buy again. All I can say is it is about time….
Even though the article is realistic about the still lingering problems, it points out that in many markets it is now cheaper to own versus rent. With the historic drop in new construction and the steep decline in housing prices it is time for the pent up demand to take over. Let’s get the word out and start the cycle of positive housing news to continue. America needs a fully robust housing market to really completely recover from this recession…