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Americans Shun Most Affordable Homes in Generation as Owning Loses Appeal
The most affordable real estate in a generation is failing
to lure buyers as Americans like Pauli sour on the idea of home
ownership. At the end of 2010, the fourth year of the housing
collapse, the share of people who said a home was a safe
investment dropped to 64 percent from 70 percent in the first
quarter. The December figure was the lowest in a survey that
goes back to 2003, when it was 83 percent.
Read more at www.bloomberg.com
“The magnitude of the housing crash caused permanent
changes in the way some people view home ownership,” said
Michael Lea, a finance professor at San Diego State University.
“Even as the economy improves, there are some who will never
buy a home because their confidence in real estate is gone.”