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Appreciating The House: Housing As An Investment, Miriam Wasserman

Maine Policy Review

A house is both a provider of services that its occupants consume and a long-lived asset that can fluctuate in value. Although homes offer both consumption and investment benefits, most prospective homebuyers give priority to a house’s consumption aspects. As Miriam Wasserman points out, for many buying a home represents the fulfillment of a lifelong dream. Homes become the stage for daily routines and major life events; they give families a sense of achievement and the hope of a secure future. However, the problem with buying a house is that you can’t buy a small share of it. A house …