Have you noticed how owning a home is getting a terrible reputation lately?
We are a society that loves to challenge the status quo, and thanks to the spectacular collapse of the housing market, the long-time “American Dream” is the new target.
“Isn’t this the best time to buy a home?,” you might ask. “Aren’t experts encouraging people to buy, buy, buy again?”
Guilty on both counts, yet there’s still a lot of hesitation in the air. Could it be because:
- Buyers are afraid that the downward trend isn’t over yet?
- Buyers are concerned about future downturns?
- Buyers suddenly have renewed interest in the “freedom” of renting?
Wait a minute…when did the inherent freedom in renting come into the equation? When millions of people around the country became suddenly and irreversibly “stuck” in their homes because of plummeting values.
Stability, the defining characteristic and selling point of homes past, is suddenly its worst enemy. People want choices and control over their future, and the semi-permanent nature of home ownership is scaring them away.
That’s really a bummer, since home ownership still offers a ton of benefits you just can’t get with renting.
Tomorrow, my reasons for still wanting a home, regardless of the economic climate. Maybe one of them is yours?
Have you noticed a shift in the home ownership approach? Why do you think it’s happening?
Photo by Mike Licht