Should everyone own a home?

If they build it, will they come?

Do low interest rates and easy loan qualification help everyone?

Is a home your most valuable asset?

Is California real estate such a prime asset that it will never go down in price?

“No” to all of the above.

Shocking news:

Brand new homes being demolished (see video) in Victorville, California because the lender doesn’t want to own the homes.  They’d rather just own the raw land which includes the demo cost.

http://www.bubbleinfo.com/2009/05/new-home-demo

http://globaleconomicanalysis.blogspot.com/2009/04/extreme-home-makeover-depression_30.html

Did anyone see this coming during the real estate bubble years in 2005?

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