Given the recent experience in housing is real estate an asset that should be abandoned? Obviously not but that mentality has grown dramatically within many segments of our nation.

Can you blame people for never wanting to venture back into the real estate market? No. It is understandable but it is not real estate’s fault. Very regrettably, far too many people did not fully understand and appreciate the dynamics at work in the real estate market, nor did they appreciate the risks involved in the mortgage finance space. That said, real estate ownership should not be abandoned.

Sentiment is growing that owning real estate as an asset is no longer wise. Bloomberg highlights this reality in writing, Americans Shun Cheapest Homes in 40 Years As Owning Loses Appeal.

While this thought process may be understandable, it is this type of thinking which is a strong indication that real estate is likely approaching a time to buy. That said, while some may want to speculate in real estate for a quick flip, it’s not likely that we will see a sharp bounce in real estate. It is more likely that we’ll see a continued gradual mild erosion in prices after the crash that has occurred. From there, we will likely experience a market with flat to mild upticks in prices for a number of years as the excess housing supply is absorbed.

Homes once again need to be viewed not merely as an asset but as a place of value in which lives and relationships develop, careers can grow, and people prosper emotionally.

As forecasted by many, it would seem to be a good point of entry for buyers who are well positioned to make a solid down payment and live well within their means and ability of making monthly payments.