Wake Up America - Real Estate is SHELTER!

Tim Iacono@SeekingAlpha makes a good point

The real value in real estate is in its function as shelter - a place to live, a place to raise a family - a point nicely made by Steve Kersch in this column at MarketWatch today.

Click to follow link:  Real Estate is SHELTER, stop believing it is an ASSET!!!

He quotes Steve Kerch from MarketWatch, who writes

But let's forget about prices, for the moment (and doesn't that feel good!) and concentrate on fundamental value. Because that is something that no home-price statistic captures.

At its core, a house is a shelter. Unless the roof caves in, there is always some economic value in that.

But most people when they dream about a house or start looking for a house or actually buy one think about value in a whole different way: they think about the fireplace they can gather around with their families, the kitchen where they can show off their culinary skills, the bathroom that they won't have to share, the schools they will be able to send their kids to, the neighbors they will be able to entertain in the backyard, the parks they can bike and hike and the community events they will be able to attend.

Yes, you have to make a price decision. And that can come back to haunt you if you're forced to sell in a market like this. But that doesn't mean you value any of those other things any less.

Click to follow Steve Kerch@marketwatch, "At its core, a house is a shelter...