Owning A Home Is Not A Road To Riches

I really liked this article because in the past I viewed owning a home as an investment based on the fact that it would appreciate.  I know this current environment shows they don’t always appreciate but what the article states is “The biggest value you derive from a home isn’t appreciation. It’s avoiding the rent you would otherwise have to pay — and pocketing the difference.”

The gentleman in this article I think says it best.  “So do I regret owning a home? Heck, no. It’s not a get-rich scheme, and Americans never should have viewed it as one. Owning a home has given my family a series of anchors to cling to as we’ve moved around the country for my job. It’s allowed us to live in pleasant neighborhoods where it would have been tough to find a rental house. And paying down a mortgage is a form of forced savings, which should help us in retirement.”

http://online.wsj.com/article/SB10001424052970203739404574290052495887922.html#mod=rss_PJ_Main