The US Homeownership rate continues to drop. It used to be that typically, housing appreciated at the rate of inflation, 2% per year, plus an additional 1-2% per year. Not so post-bubble. Locally and nationally, home price declines are expected to continue for the next couple years; C'ville Area's home sales are at a 13-year low. Nationwide, more and more folks are coming to the conclusion that renting is the more prudent financial choice.
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It has taken me a few years to be able to understand the kind of argument that is being made by BC; but I have come to see that it is a true description of our current circumstances. How unfortunate for the vast majority of citizens.
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