Busting of the San Diego Housing Myth

“You can not lose if you purchase a San Diego home.”  This was the conventional myth for many decades, but, as we all now know, it was just that…a myth! Your home is the best investment most can make…Really?  Brett Arends had a simular article  in the Wall Street Journal.  Here is an excerpt:

Conventional wisdom long held that home ownership was a route to wealth, and the imputed rent — in other words, the right to live in your home — was just part of the value you got from it. Under that widespread view, the recent housing bust was simply a temporary, though deep, pothole.

Yet for very many people, even over the past 15 or 20 years, the imputed rent may have been all, or nearly all, the real value they actually got from their home.

San Diego homeowners and for that matter all California homeowners are being forced to face our new real estate reality… though the possibility for future San Diego real estate appreciation exists, prospective homeowners should be more concerned with a suitable place to live, and consider any appreciation as a possible, but not assured additional benefit.                                                       San Diego California real estate agents