It should be said that many have done well with their real estate investments and are not considering changing their positions. This from Rob Chipman at his own blog, 09 May 2008 9:16am -
” ‘Rob Chipman is Homeowner’? You bet I am. I also own other property, and I’m not motivated to sell. I will buy more when the numbers make sense for me. That means that either rents rise/prices drop or my OSBs drop enough that I can re-finance and buy more at less favourable metrics. I’m no genius, but I do know that I haven’t sold my properties and they’ve still performed better (i.e., I have more real money in my jeans) than my non-real estate investments, which are professionally handled. I know this isn’t the experience of everyone, and I’m the last guy to say that it is. Still, I own real estate because I believe in it, and my belief in it has been rewarded handsomely over the years. I’ve made more money owning real esate than I’ve ever made working or in other investments.”
couldn’t agree more. the market remains healthy and has merely reverted to a normal market…apparantely many people must have entered the market in the last 5 years and are unfamiliar with a normal market. over a 20 year period real estate will make you very wealthy.
maggie -
Thanks for your post. If you think that ‘the market remains healthy’ or is anywhere remotely near a ‘normal market’, I’d humbly recommend you read some of the blogs that I’ve linked in the blogroll sidebar. Mohican‘s is a good place to start.
Here is a good link to a Wall Street Journal article on the money you “make” from home ownership. It applies to homeowners more than investors who own additional properties beyond their own home. Investors have greater flexibility on when they get in and out of the market and don’t have to buy another place to live after they sell their investment. They can sell (in a good market) before the maintenance costs stack up but after the prices rise.
http://online.wsj.com/article_email/article_print/SB117329581356629863-lMyQjAxMDE3NzEzMjIxOTI1Wj.html