Biggest Asset Down
It had long been true in this Country that one’s house (or home if you like) was one’s largest asset, and it could be counted on to hold its value or, in most cases, increase in value. All that is changing.
Area home prices fell 2.8 percent in January from a year ago, marking the seventh consecutive month that local prices are down. . .Home prices dropped in 18 of the nation’s 20 largest metropolitan areas, the index said. Washington D.C. saw a 3.6 percent growth and San Diego squeaked out a 0.1 percent increase. Sandra Baker, Star-Telegram.com
I can understand why D. C. is experiencing growth – that’s where most of our money goes. I feel for folks who have their life’s fortune tied up in something that is losing value. Our Nation has brought this upon us through some actions that should have been prevented. None the less, we are where we are and we can only pray our economy will recover.
Let me encourage you to remember the Truth of God’s Word. Put your treasure, as best you can, in that which will never fade away, grow less valuable, or collapse with the housing bubble. And remember this, “where your treasure is, there you will find your heart also.”