BluefoxToday blog : Should Anyone Buy a Home In Today's Market?

Should Anyone Buy a Home In Today's Market?

Recent headlines, as well as some of my own blog posts, have some consumers wondering: "Should anyone buy a home in today's market?" And the answer is a definite, but qualified, almost enthusiastic, yes. An article in the NY Times, points out some of the obvious benefits of home ownership:

● A mortgage can be a type of forced savings

● Home owners don't have to deal with the difficult or fickle landlords who may decide to sell or experience foreclosure

● Rental units may not be available in the area in which you wish to live.


And in previous posts I've pointed out that home ownership can provide:

● An anchor to the community (Owners are more involved in community, civic, and political affairs)

● Stability (Owners move less often and are more likely to develop relationships with neighbors)

● Freedom (Owners can customize or modify their accommodations as they wish and as often as they wish and will reap the financial benefits of their improvements)

● Pride of ownership (Becoming a home owner provides a sense of accomplishment)

● Security (Neighborhoods filled with owners have less crime, and strangers do not have keys to your home)

● Homes provide a place for family activities (Backyard swing sets, tree houses, or room for family pets)


And while the recession has placed the focus upon the financial risks associated with a home purchase, when purchased wisely, homes can be financially beneficial. Because of the leveraged factor, a shrewd purchase sometimes offers significant returns. Unless you are an investor, however, homes should not be purchased for investment potential.


Should anyone buy a home in today’s market? Yes, but not everyone who is qualified. There are numerous considerations, and for some a purchase could prove disastrous. However, those who wish to own a home and who are financially stable should certainly consider their options; and having an experienced buyers’ agent to help locate the best home in the best location, provide expert guidance through the complex purchase process is essential.

The Housing Guru: The expert source for all your housing questions


Comment balloon 13 commentsJohn Mulkey • August 28 2010 07:24AM


Good Morning John,

Thanks for the post and tips. Have a great day.

Posted by Patrick White, Driven to bring New Yorkers home (Home Driven Realty, Inc) over 9 years ago

Patrick - And thanks for stopping by!

Posted by John Mulkey, Housing Guru ( over 9 years ago

And, of course, "There's no place like HOME".

Posted by Lenn Harley, Real Estate Broker - Virginia & Maryland (Lenn Harley,, MD & VA Homes and Real Estate) over 9 years ago

Glood message for prospective home buyers. It is a good time to buy if you are looking at the long term.

 Blooming for Maryland home buyers.

Posted by Roy Kelley (Realty Group Referrals) over 9 years ago

Thanks John for the great post and information. In Massachusetts buyers currently have the upper hand so yes, now is a great time to buy.

Posted by Melissa Juarez (Massachusetts Buyers Broker Agency, LLC) over 9 years ago

Oh Great & wondrous Housing that solid backing of : " the answer is a definite, but qualified, almost enthusiastic yes."   That covers all the positive folks out there and those negative ones can just float on by without stopping to graze at the grass-is-always-greener-lawns in the neighborhoods. 
Seriously, I am not a "Polly-Anna" type person, but do believe that left alone this market will rebound.  If the ones who  make their livings by writing Bills they never read would stay out of the way of those who actually work in the field--the prognosis might be brighter.  Fannie & Freddie are gonna' get it next year, when the Bill writers take them to the wood-shed. Yeah right!  don't bet on it,
Once we get back to the realization that Home ownership is a privilege rather than a right; a reward for those who work toward such a goal, not wait to be handed it [even those who think they will inherit ]; when the Pride in being a Homeowner though one's own goal-setting, want-controlling,  & financial-clarity once again sets the standard--then we, as a country, will on firm footing / foundation.
Good post!  All the positive points need to be spoken / written loud & clear    
Barb & Sal

Posted by Barb & Sal Dragotta, Macomb County Michigan over 9 years ago

Lenn - For those who can appreciate it, there certainly isn't!

Roy - Yes, the era of short-term gains has passed.

Melissa - Buyers just need the guidance of a pro.

Barb & Sal - And thanks for the encouragement!

Posted by John Mulkey, Housing Guru ( over 9 years ago


People will continue to buy for those reasons. Ownership the primary one.

Posted by Terry Chenier (Homelife Glenayre Realty) over 9 years ago

 Terry - Ownership does come with many benefits.

Posted by John Mulkey, Housing Guru ( over 9 years ago


You're right. There are still many benefits. And, market timing isn't always one of them.


Posted by Brian Madigan, LL.B., Broker (RE/MAX West Realty Inc., Brokerage (Toronto)) over 9 years ago

Brian - Just don't expect quick returns. After all, it's a HOME.


Posted by John Mulkey, Housing Guru ( over 9 years ago


Buying a home today for investment purposes can be quite risky. But for shelter, an excellent choice.

Posted by Esko Kiuru over 9 years ago

Esko - After all, that's the purpose of housing. 

Posted by John Mulkey, Housing Guru ( over 9 years ago