I remember sitting in an economics reporting seminar in grad school three years ago and many of us lamenting that we would not be able to buy homes, not with having to repay student loan debt too. Ever since the bursting of the housing bubble I’m feeling more hopeful. And today’s S&P Case Shiller Index news further bolsters my hope.
In the first quarter, home prices fell 19.1 percent, compared with first quarter 2008. That’s the largest decline in the history of the index. Seventeen of 20 metro areas saw declines in March. But prices fell only 7.5 percent from the fourth quarter of last year to the first quarter of this year.
I know this news isn’t the best for those who already own a home, but it certainly provides an opportunity for younger Americans to begin to invest in themselves and their communities. Look at the ThinkGlink.com topic page for tax credit for another factor that’s helping first time home buyers realize their dream.
May 26, 2009