"There is no iron law that real estate must appreciate," says Zillow chief economist Stan Humphries, in a New York Times "eulogy" for the housing market. According to experts quoted in the piece, the post–World War II era of good times in residential real estate — when those who invested smartly were practically guaranteed enough wealth to retire and send their kids through college — is over, and may never return. Instead, they say, your home's value will just keep up with inflation. What now? (Watch a Fox Business discussion about the failing housing market)
Real estate's dead? Good riddance: The "thriving real estate industry" gave a boost to the U.S. economy, but its fall to earth will be even better, says Daniel Indiviglio in The Atlantic. If people no longer believe the "false promise" of easy real-estate wealth, maybe they'll invest in more productive assets, like stocks, bonds, and small businesses.
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