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Rising (and then dramatically falling) housing prices destroyed the wealth a large portion of established families. If they bought a house in say 2005, they los
by timtadh 15y ago
Rising (and then dramatically falling) housing prices destroyed the wealth a large portion of established families. If they bought a house in say 2005, they lost money and are saddled with a huge mortgage. Even families who own their own home now have less money as people often viewed their home as a major investment.
- cube13 15y agoWhich is entirely their fault. You don't treat basic needs(food, water, roof over your head) as investments, because no matter what the actual price is of those, you still need them. Instead, you should buy what's affordable for you, so even if the price drops, it doesn't matter.
- chollida1 15y ago> Which is entirely their fault. You don't treat basic needs(food, water, roof over your head) as investments, because no matter what the actual price is of those, you still need them. Instead, you should buy what's affordable for you, so even if the price drops, it doesn't matter. This is a little harsh. Many families need to sell due to reasons other than treating their house as an investment.
- whatusername 15y agoSure. But isn't that a Gen X problem?