One of my favorite mortgage brokers sends out a 'Market Recap' regularly. I read them, trash them, forward them if they are worthwhile. The one I received yesterday was good. I've copied and pasted the end of it for my blog fans to read. It talks about good or bad news, Real Estate is a good option for many. I'm one of the many, are you?
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Why Real Estate?
Everyone likes real estate, whether what's constructed on it serves as an abode or an investment. Real estate is tangible. Unlike stocks and bonds, real estate can be touched, handled and improved. Real estate provides “psychic revenue.” There is a pride of ownership that comes with real property that doesn't come with other property.
Financial media are rife with articles on why owning residential real estate isn't such a good idea. They point to arguments on how real estate decreases mobility or how much it costs to maintain. The articles have some validity, but they are often marked by glaring omissions. Yes, real estate can limit mobility in a slow economy, but it has always been that way. There is nothing new to this point.
Most of us have rented and owned residential real estate; we would argue that most of us prefer to own. When we own our house, it feels like a home – that's the psychic revenue. Value matters, to be sure, but if the scales are close after weighing the renting/owning choice, they still tend to tilt toward owning. It's important to keep that preference in mind when others are trying to convince us otherwise.
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Are you one of the many ?
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