Recovery

Yup........according to CNBC we are 8 months into the recovery.
Silly turdballs.
Some are predicting a housing turn around.......(although those folks are getting harder and harder to find) they still insist RE is a good investment.
If you are in that crowd then do not read what Karl has to say over at The Market Ticker.
The ponzi scheme is bust. Debt, piled on top of debt, piled on top of debt, and our gov is the lender of last resort.
I recall 2 or 3 years back when the media was blaming the housing crisis on the "Subprime Bums" (they would always show a black couple....go figure) and those that had RE and wanted to sell said they were gonna wait till the housing market picked up again, all I could think of is the various RMBS (Residential Mortgage Backed Securities) that showed the default rates in the different tranches.......Prime....Alt-A and Subprime.....and how those default rates were higher in the Prime and Alt-A loans, than the Subprime loans. Scratching my bald head I could not figure out how housing values could possibly reverse course.
Well they didn't and they won't........certainly not in my lifetime anyway. So plan accordingly.

Purchasing a house will eventually be like purchasing a vehicle.
When you buy a car, do you plan on using it for a while and then selling it for more than you paid for it?
No.
Do you refi your car to buy shoes or go on vacation?
No.
You use it for the purpose you bought it for, transportation.
Homes will be bought to serve a purpose.....shelter.... and not as a so called investment or a means of leverage.