Dropping Home Values: One More Reason to Build Your Own Sustainable Home
As if you needed another reason to build and live sustainably… Okay, here’s another reason – dropping home values. Millions of people are getting badly burned on their home investments. This is another reminder to live within our means. Build and buy only what we need, not what some banker or mortgage guy tries to pitch us. Building your own low cost natural home is a lot of time and work, but this sort of lifestyle is looking better and better. Peace of mind living debt-free in your own home = priceless.
From CNN Money:
“Home prices dropped for the fifth consecutive month in January, reaching their lowest point since the end of 2002… Home prices have fallen a whopping 34.4% from the peak set in July 2006… Potential homebuyers lack confidence in the market… A big problem looming is a massive number of potential foreclosures.”
“People see that there are millions of homes underwater, and at elevated risk of foreclosure, and conclude that housing values are unlikely to appreciate in any meaningful way for many years,” he said.”
Source: CNN Money