Monday, January 23, 2012
The "New Normal" in 2012: Renting Doesn't Mean "Throwing Money Away" and Buying a House Isn't an "Investment"
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.