Monday, August 30, 2010

In Defense of Home Ownership

Of course you would expect a realtor to be in favor of home ownership.  Afterall, if nobody bought homes any more we'd only have landlords for clients!  A brief overview of world cultures will show that from the beginning of time in most cultures land ownership was considered the main measurement of wealth.  Of course, on top of that livestock and crops played an important part as well.  But people always need a place to live.  And in areas such as ours when land is scarce it is hard to imagine that property values will stay depressed for too long.  I know there is a buzz right now about "the end of home ownership being a pathway to wealth" about the end of the American Dream.  Well, I don't believe it for a minute. There is a reason why property is called real estate.  It is the only investment that has historically apreciated in value and that you can live in, grow food, raise animals and in many other ways meet some of life's basic needs.

Now I don't believe home ownership is for everyone.  For many individuals, at certain times, renting makes more sense. There are many factors to consider when making a decision as big as buying a home.  I think it remains the American Dream, and the dream of most people living on our beautiful blue planet.  There is something special about having a spot that you can call your own .  I can't imagine that this special relationship between the human being and the land he holds stewardship to will ever end.

There are two articles for further reading. Click Here for NY TIMES (In Defense of Home Ownership) and Click Here for Time Magazine Article (The Case Against Home Ownership)

1 comment:

  1. great article, I think that you make a good point about the importance of home-ownership. While it may not be for everyone it is still a viable way to accumulate wealth and happiness... I will own a home someday...