The so called housing crisis

Is the housing crisis really a crisis after all? Consider the facts. Only 3% of all home owners are facing foreclosure. That means 97% are doing just fine. People are not selling their homes because they have lost value - no they are still living in them. A house unlike other investments is very different because we all need somewhere to live. It happens to be an added bonus that our homes have also become an investment. Many of the homes that have been foreclosed on were investment properties that were rented out so unfortunately it is the renters that have lost a place to live. The housing crisis hit the investor market hard and I for one am thankful that it did. The price of housing was driven up mainly by investors buying up available homes and forcing real future home owners out of the market. Now that the market has crashed the real future home owners can get back into the market and buy that first home or look for that retirement house.