Where is your Home?

Where you live now?
Where you were born and raised?
Where you lived the longest?
Where you raised your children?
Where you went to high school?
Where your family comes from?
Where you made the most money on your house?
Where your heart is?

In the ‘80’s, families moved about every 7 years.

Today, families move about every 4 years.

Why the change? The graph of home values answers the question. It seems from the data that families moved more often – locally! This would tell me people were trading up by “cashing” in on rapid appreciation in most markets. By moving up, these families stayed in their community but now maybe facing problems due to the economic downturn. If they have lost their jobs, they may be having difficulties in making their mortgage payments. Foreclosures are on the rise. I think the mobility of families is due to their thinking that housing is an investment first and a home to raise their family as a second priority.

The concept of considering housing as an investment was fueled by an artificial market launched by lenders, the media, home builders and appraisers. Once the housing market stabilizes, will families again want to establish roots in a community and consider their house a home? I vote YES. But the housing industry must change by developing new sustainable communities to reinforce the concept “a home is where your heart is”.