In the current issue of New Homes Magazine, columnist Don DeBat ponders the intrinsic worth of owning a home – a value beyond its investment potential:
The American dream of buying a single-family home once was all about enjoying family life – raising kids, baking apple pie or sitting by a crackling fireplace.
When did the goal of homeownership shift from putting a roof over the family’s head to the greedy practice of “flipping,” moving every few years to cash in on rapidly appreciating real estate values? In 2004, Freddie Mac reported that home resale prices had appreciated 29.7 percent during the previous five years. In the frenzy of that growth, some American homeowners became feverish flippers.
Read the rest of DeBat’s column at New Homes Magazine online.