Tell me it just ain't so....
Sometimes we wake up to a new reality. The truth is reality has not changed, only our perception.
Friday evening our cable system went out for an hour or so. For whatever reason all the stations froze - except for one. It was as if I were a child agin with no choice of channels (clue - 1960s).
Anyway, the only program on the one channel was wrestling! Yippee! A long long time ago I believed wrestling was the real deal.
While out for my early morning walk, I was thinking about how some of the homes in my area were bought several years ago for a lot more money than they are worth today.
Some thought they were buying an investment. Some who were taking out all these HELOCs (home equity line of credit) thought they were using their investment wisely. 
Now, reality has set in...
A house should not be viewed as just another (or primary in some cases) investment. A house should not be used as a bank where you borrow unwisely against your home.
Life is a great teacher - even if the lesson is a difficult one to accept!
Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.
Read my blogs Florida Homes for Sale, Moving to Brevard County, Florida, and Brevard County Florida Real Estate Information.
Life can teach hard lessons but those are the ones we never forget.
Hi Gary:
You make a great point here. You are absolutely right!
By the way, my parents still think that Pro wrestling is real...
I am sorry to say but most homeowners feel that the price of their homes is "about the same" as in 2006
Toula - Wrestling...probably more real than some folks estimation of their home value!
Moshe - The loss in value is a hard thing to accept because it just is not supposed to happen. Thanks.
Elite Home Sale Team - Touch a hot stove and we learn. Yep, the painful ones sometimes leave a mark. Thanks.
Gary, our nation has learned a very hard lesson corporately and many families individually. It is no fun to sell homes when the owners are losing their home, but at least we are helping them from a worse alternative.
True. The options are limited and selling is better than foreclosure!
You are preaching to the choir Gary. People ask me all the time "Is now a good time to buy a house." I tell them, "It is if you need a house, it is not an investment." Buying a house should be about lifestyle, not money. If you need it, you buy, if not, there are better places to invest money that are more liquid.