Seems a rather odd question to ask, after all homebuyers have seen a sharp rise in equity over the last several years.
But a sharp correction in the US seems to have split young buyers on the option of buying.
Some see it as a good investment, but there are apparently increasing numbers of young Americans who view property as an anchor limiting mobility rather than a sensible investment.
When Kimberly walked up to the front door of a beautiful, 7,500 square foot colonial, anchored in a terrific cul-de-sac in northern Baltimore County, she said to herself: “All my life I thought this was what I wanted. But as beautiful as this property is, I see nothing but a money pit and a trap.”
The 32-year old congressional aide who was arriving at the house for a charity event chose to satisfy her curiosity by exploring the grand rooms and perfect fixtures, only to finally decide, “Yeah, not only would I never buy an individual house, I’d be shocked if my friends would as well.”
Read the full article over at CNBC.