Housing Bust?
A year ago every magazine and news channel was touting the never-ending real estate upswing and why you should get in NOW! Boy have things changed. Since the National Association of Realtors announced that home prices are expected to continue falling through 2006, there's been a flury of "real estate bust" news. The truth probably lies somewhere in between and Brownstoner has found an interesting article from BusinessWeek that states, homes are actually adjusting back to their true value and when looking at the bigger picture this adjustment is better for the economy in the long run. But this news offers little relief for those who borrowed heavily on their home or were counting on the increase in value to bankroll their retirement.
