Why Your Best Investment is a House
LOS ANGELES (MarketWatch) — I’ve heard it over and over again for the past couple of years from friends, family, business colleagues, and even my local bartenders and baristas.
The refrain is eerily similar each time, and it sounds something like this: “What are you waiting for? Now is the time to buy that house.” I ignored them for a long time, as I knew the metrics of large supply overhang, increasing foreclosures, slow GDP growth and anemic employment figures were liable to keep home prices down for some time.
But now, however, I’m thinking those bartenders and baristas just might be right — especially after Wednesday’s news that new-home sales have hit an eight-month high. Read more on new-home-sales data.
If we look at the recent news in the housing segment, we see some very interesting trends developing.
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Posted on Sun, January 30, 2011