Bill S. The loss of home values is a problem in large part because we have had so many people who have learned to think of their homes as an investment from which they will receive a large return. I was anxious to buy my home because I viewed it as a retirement investment. I was not planning to buy a house and hold it until I could sell it for more than what I paid for it. I bought it because I figured that when I retired I would have a place to live without having to pay rent or a mortgage payment. I now have a home that I don't have monthly payments to make. I have to pay taxes, insurance, and upkeep. But if I was renting or paying on a mortgage I would still be paying those things, plus interest on the mortgage (or the owners mortgage on the house/apartment). I might or might not be able to sell it for what I have in it, but I have place to live that won't be taken from me.
Bill Gill
