Jeff Ostrowski
Alexandra Clough
Home > Real Time > Archives > 2008 > September > 05 > Entry
Juno broker: Your house is just a house, not an investment
Still smarting from losing all that cash as your home has plummeted in value in the past two years?
Pete Martinsen, owner of RE/MAX Ocean Properties in Juno Beach, offers this consolation: Your home is shelter, not an investment.
That was easy to forget in 2005, when homes were the hottest investment since the dot-com bubble. Before 2002, though, home prices in Palm Beach County rose only a few percent a year.
“It used to be you were lucky to sell for enough of a profit to cover your closing costs and commission,” Martinsen says.
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By pooo
March 16, 2009 9:52 AM | Link to this
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