There has been lots of news recently about home values increasing. I know some have increased in my area. The Seattle Times is reporting this as well. According to the S&P/Case-Shiller 20-city home-price index, Seattle jumped 1.9% in July. Of course very few mention that the market is down 18% from 2007. I guess by not mentioning that it builds customer confidence. Also according to S&P/Case-Shiller 20-city home-price index, there were only 3 large metro cities that made gains. These were Seattle, Tampa Florida, and Washington DC.
If you read the Emerald City Journal, you probably know I’m not a fan of buying a home. I just don’t understand how someone could pay $250K for a home and another $350K in just interests and think they are going to make a profit on that. Add in the property taxes and it’s just ridiculous the amount you pay in the end. The “American Dream” is alive and well I guess. I’m happy people are still falling for this because these are suckers paying for all the roads, schools, and city expenses. America needs you to believe.