This economic crisis, while similar to the Great Depression, is also unique in the way that the housing market played a central role, said Greg Rand, author of Crash- Boom. It is true that this is a once-in-a-generation crisis. It is also true that this is a once-in-a-generation opportunity. Its time to focus on the other side of the coin.
Rand cited five reasons for doing so:
The meltdown wasnt of housing, but of Wall Street centered around a predictable housing correction. Housing will save us in the long haul, he said.
Owning a piece is better in the long term than shares in Apple.
Flipping houses is a suckers bet, while owning is about building wealth.
Invest in a condo to build a college fund.
Dont zoom in and out, as the market changes hourly. Stick with it. Gazette staff