Comments about ‘U.S. home prices increase by biggest margin in seven years’

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Published: Tuesday, June 4 2013 6:45 a.m. MDT

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luv2organize
Gainesville, VA

With the increase I am finally able to refinance because my home has over 20% equity. Rates are still at an all time low so don't miss out!

JoeBlow
Far East USA, SC

People complain about the state of the economy.

However, when you compare the stock market( read 401k) the housing market, and unemployment
to the second half of 2009, I have a hard time believing that the wealthy have not fared extremely well on the last 4-5 years.

How bout looking at the good for a change.

Irony Guy
Bountiful, Utah

It's Obama's fault.

Brave Sir Robin
San Diego, CA

Why do people look at their home as an asset? I thought a home was a place to live? In other words, if you were to liquidate your home (i.e. sell it), where would you live? The only solution is to buy or rent another home - hence, a home cannot be truly considered an asset because you can't live without one.

Home values are a red herring. Just because you house is increasing in "value" doesn't mean you suddenly have more money.

Chris B
Salt Lake City, UT

Robin,

Your home is an asset and yes it will mean you'll have more money, assuming you do sell it and buy a new one. Regardless of what the price of my next home is, if my current home is worth $50k more now than it was 7 years ago, I'll be $50k richer whenever I sell the home, assuming prices stay.

Yes I have to buy a new one. But assuming prices hadn't increased, I'd bet $50k poorer when I bought that new house and sold the old one.

Simple concept really.

Brave Sir Robin
San Diego, CA

No Chris, it's not a simple concept. If your home appreciates in value by $50k, then the next home you buy is also $50k more expensive than it used to be. So unless you're planning on living in a tent or you're a house flipper, home values are a zero-sum game.

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