Retirement planning sure has gotten a lot more difficult since the housing market and the stock market both went bust. Conventional wisdom used to be that, if you didn't save enough money and invest it well enough, your rising home equity would make up the difference for you - and possibly much, much more.
Obviously, that's changed rather dramatically.
I sometimes wonder what my old dentist thinks about real estate these days after reacting in shock when, about four years ago, the possibility was raised that home prices may not keep going up forever. The idea of home prices actually going down caused him to take a step back, drill still in hand, and after commenting, "My retirement is depending on it" when referring to his home equity, I said no more.
The crown turned out just fine.
According to this report at MarketWatch, an increasing number of Americans are now sufficiently past the shock phase in their reaction to what has transpired in the housing market in recent years that they're beginning to look at things with a clearer head.
This change in thinking splashes a good amount of cold water on what has been dogma at the National Association of Realtors - that homeownership is a way to build wealth.
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