I haven’t heard a peep about the housing market from the media. Why do they go black on so many important issues?
Anyway, I recently read an interesting article at MSN Money about remodeling versus moving. According to the article, “keeping up a home for 30 years may cost you up to four times its purchase price.” I don’t know if that’s true. It definitely isn’t true for me– although we got our old house at a deep discount because it was in such poor shape. But we have done 99.9% of the work ourselves, and have saved a bundle of money so doing.
But it seems that the housing market is still a little slow. Eons ago (so it seems), owning property was THE bets investment you could make in America. Maybe that is still true, but the return on investment seems to be a lot lower the past 20 years. Here in my area, Zillow.com recently hailed an Upstate city as the number 1 place to buy a home, based on affordability and value. But the housing market here is “eh.” Our entire local economy is based on refugees coming in from the Slavic and Asian nations.
How’s the housing market in your area? Lots of “For Sale” signs, lots of foreclosures or empty houses?