This article is just one of a hundred other like it – this grand announcement that investing in real estate isn’t a good option anymore. No really? Also. Was it ever?
The whole conversation – the horror of ridiculously rising real estate values and inflated mortgages that has shorted middle class families; the decade-long American hard-on for square footage and that crashed without delivering satisfaction; the maiming of sub-prime mortgages – an idea that was meant to help put the people into reasonably priced, much-needed homes – all of it makes me nauseated. When did everyone start thinking of their home as real estate? When did every single thing we do in this world become some sort of investment. I bought a name brand purse last week – told myself it wouldn’t “lose its value.”
This is bullsh*t. Read Louise Erdrich’s The Bingo Palace. Money can’t buy love or luck or identity or sense of place. Money doesn’t make us grounded. We say we know this, but we don’t. And what we need are homes, all of us – and not investment options. Where will our children live when we can’t house them? Where will we live when we are old? Who are we if where we live is just another declining investment option?






