Homeowners with no regrets, and other notable numbers
Do you homeowners out there regret buying? Nine percent of Americans surveyed on behalf of Bankrate.com recently say yes. Bankrate.com's Greg McBride finds it "surprising -- and reassuring" in these difficult times that 90 percent said no.
Many of the folks who do have buyer's remorse are having trouble selling or making their mortgage payments.
I thought you'd be interested. These other news nuggets caught my eye, too:
Who sells more homes, builders or banks? Banks, says housing research firm Hanley Wood Market Intelligence. That's been true for the last year and a half.
Whither (or rather wither) homeownership: John Burns Real Estate Consulting is predicting that the homeownership rate, which peaked at 69 percent during the bubble years and has since slid to 67 percent, will fall to 62 percent in the next two years as struggling borrowers succumb to foreclosure. The company says it's not optimistic about loan modifications "primarily because so many of these consumers have too much additional debt."
Which brings us back, full circle, to the regretful buyers.
Are you happy with your home? Are you glad you bought it, if you're not renting? How much do factors such as home prices affect your enjoyment of your property -- if at all?
Sign up for the At Home newsletter 
Comments
For me, Jamie it boils down to this:
1. I have a mortgage I can afford.
2. I live in a neighborhood that I really enjoy.
3. I can do whatever I want to my house, gardens, home improvements, etc.
Are home prices fluid? Yes but based on the above 3 points I do not regret buying a house.
Posted by: bryanintowson | July 23, 2010 8:37 AM
JAMIE I REGRET PURCHASING MY HOME. I PURCHASED IN THE FALL OF 2006 AND HAVE LOST ABOUT 20,000 DOLLARS IN VALUE. AS A FIRST TIME HOMEBUYER THERE ARE SO MANY THINGS THAT YOU ARE NOT MADE AWARE OF AT THE CLOSING TABLE( I.E. CHANGING INS,TAXES.) THAT CAN AFFECT YOUR BUDGET. MOST OF US WERE SOLD ON THE "STARTER" HOME FANTASY AND THAT WE COULD UPGRADE IN A FEW YEARS, BUT THAT IS NOT ALWAYS THE CASE. THANKFULLY WE DID NOT BUY BEYOND OUR OUR MEANS OR GET ONE OF THOSE CRAZY LOANS. WE ARE DOING WELL, BUT MY ADVICE FOR NEW HOMEOWNERS IS TO PAY OFF ALL OF YOUR DEBT BEFORE YOU BUY(AND REMAIN DEBT FREE) AND MAKE SURE THAT YOU CAN IMAGINE STAYING IN THAT HOME FOR 30 YEARS. DAVE RAMSEY HAS GREAT IDEAS ON HOW TO BECOME DEBT FREE.
Posted by: CANIGETASCREENNAME | July 25, 2010 9:35 AM
Jamie, here is something I posted on facebook the other day:
"For the first time in U.S. history, banks own a greater share of residential housing net worth in the United States than all individual Americans put together."
Posted by: RobertJStrupp | July 25, 2010 10:12 AM
When we moved to Maryland 21 years ago, we bought with 25% down. Our house payment was less than renting. Even with the maintenance ( new furnace, new hot water heater, etc.) and upgrades (new kitchen and baths) we are still ahead. If buyers are in for the long haul, they will do well. The days of the quick profit are long gone (and should be).
Posted by: Carol B | July 25, 2010 12:31 PM