People no longer see a house as a home first and a long term investments

Reading some of these posts I see a large part of the problem in this country. People no longer see a house as a home first and a long term investments. The mind-set seems to be that if I paid $200K for the house today, its value should never go down and I should be able to sell it anytime for at least $200K.

Well guess what. That isn’t always the case and it has never been the case. Apparently an awful lot of people got into home ownership over the past 10-20years or so that frankly do not understand that a home is a place to live first and a long term investment second. The old rule of thumb was if you don’t plan on living in the house for at least 5-10 years, you should rent, not buy.
We are back to the good old days, 20% down, house for shelter and a long term investment. The goal used to be to pay it off eventually, at least by the time you retire.

Real estate agents are some of the biggest liars out there. Everyone needs to remember that they are nothing more than salesman. If you don’t buy, they don’t get paid. It’s always a good time to buy when you’re a real estate agent.