At the very least, real estate has always been a good, safe investment. But with the slowing economy and sluggish markets in many areas of the country, some potential homebuyers are asking if it still pays to own a home.
Real estate is still a respectable shelter for savings.
The monetary value of home ownership is measured by both the equity built over the years and the tax benefits. These are tangible benefits realized from the time you buy until the time you close on a sale. In addition, prospective homeowners should consider the less tangible benefits such as privacy, independence and establishing roots in the community. Many economists predict that in the new millennium home prices will stabilize and rise slightly faster than inflation, continuing to make home ownership a good investment. Further, the forecast is that incomes will rise faster than home prices.