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 Days of Using Homes as Wealth Generators is Over, Experts Say

from Los Angeles Times via The Austin American Statesman

For generations of Americans, a home was seen not simply as a dwelling, but as an engine of personal wealth. That view was promoted by the homebuilding and real estate sales industries as well as the U.S. government, which subsidized home loans and provided tax deductions for mortgage interest. Now, however, the worst housing crash since the Great Depression might mean that a home purchase perhaps ought to be considered with the same warning issued to investors in securities: Past performance is not indicative of future results. more


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