Lots of price cuts today, but I'm not posting on them

trouble in our market

trouble in our market

Because they're all houses I've discussed before, and I really don't want to embarrass or humiliate their owners: the point of this blog is to report market conditions, not, I hope to hurt individual homeowners. 

That said, the homes I'd be tempted to write about are all properties that have now slipped below  their original purchase prices several years, even a decade (or more) ago, despite having hundreds of thousands of dollars spent on them for renovations and expansions. And, contrary to the happy experience of the spec builder on Husted, it seems that buyers of existing houses are experiencing depreciation of their homes, rather than the appreciation we witnessed in the glory days. 

So, suggestion: buy a house to live in, and enjoy it with your family; don't consider it an asset but rather, an expense, just like a rental.

(I've pointed this out before).