Owning a residence doesn't ensure wealth
BY BOB RATHGEBER • brathgeber@news-press.com • August 24, 2010
Some leading national experts argue that gone are the halcyon days of wealth being created by the home you own.
"People shouldn't look at a home as a way to make money because it won't," said Dean Baker, co-director of the Center for Economic and Policy Research in Washington, D.C.
Southwest Florida became the poster child for bloated home prices.
The median price of a single-family home sold in Lee County with the assistance of a Realtor reached an all-time high of $322,300 in December 2005 before declining steadily over the next four years and leveling off over the past year. see the full article on news press
http://www.news-press.com/article/20100824/RE/8240331/1076/RSS08
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