Ok, I’m telling you right now, Realtors are going to immediately disagree, but is it possible that the Dream of Homeownership is actually a scam being perpetrated upon the American public? It may indeed be evil!
Don’t be so quick to say no. Today’s economy may be reason enough to avoid homeownership. The dream that I had as a young man and the dream that my parents had before me, may not be what I now wish for my children.
Real estate is a commodity. Say it and let that sink in. Real estate is an investment. Would you want to buy an investment that had little prospect for growth in the coming years? Putting the money that you would need to buy a home in a simple interest bearing CD may do you better than owning a home in today’s volatile real estate market.
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I can hear the questions already…”but wait, aren’t you a real estate investor who promotes the virtues of real estate investing?”
Well, you’re absolutely right. Let me make a very, very strong distinction. There’s a HUGE difference…like Grand Canyon size divide, from investing in real estate and buying into the crock of homeownership.
The former is based upon prudent due diligence and predicated upon the premise of making money. Hence the word “investment“. My sole reason for being involved in real estate is to make a profit.
The latter is based upon choosing a place to live. It is much less of an investment decision and more of a personal or emotional choice. So with that being said, a lot of economists are saying that right now is NOT a good time to buy a home…but is indeed a great time to be investing in real estate.
Check out the video below and hear what a financial advisor is saying about the scam that may be cloaked as the American Dream.