Home Value Denial: Not Just a River in Egypt : HousingWire
by Tom on October 30, 2008
in house prices
Half of U.S. homeowners live in a state of denial about falling home values, according to a third quarter homeowner confidence survey released Wednesday by real estate information providers Zillow.com. The survey found that while 74 percent of homes have lost value during the past year, a full 49 percent of homeowners said they believe their home had either maintained or gained value during that time.
via Home Value Denial: Not Just a River in Egypt : HousingWire
My home is more valuable this year than last. To me. This is my refuge where my family resides. I could care less what the value for a house daytrader would be. Until houses become homes, there will be instability in the housing market. Home ownership is encouraged as a matter of public policy not so that we can daytrade the real estate. The sooner families purchase houses for their home, the better off we will all be.