U.S. Real Estate Market. “We may not have appreciation or equity in our homes for 30 years.”

Many of our VIP Members had planned to sell the real estate they own in the U.S. and use the proceeds to buy their retirement home in Costa Rica.

Unfortunately, the economic situation for most regular people is tough now and, it could be many, many years before we see any kind of an improvement.

New York real estate attorney Adam Leitman Bailey appeared on CNBC to diagnose the state of the housing recovery.

Bailey started by noting the three markets, the well-performing luxury market, the muddling lower market that could be damaged by the conforming loan limit and the foreclosure market, which he said may not be sorted through for another five years.

Meanwhile, Ballew said housing prices have yet to hit bottom and it may not be until 2013 that they actually do. Housing will continue to drag on an overall recovery for at least five years, according to Ballew.

Finally, Bailey ended the segment with perhaps the gloomiest statement of all: “I think that homeowners greatest investment, and the way they can retire on money, being housing is a dinosaur,” he said. “We may not have appreciation or equity in our homes for 30 years.”

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Andrew Makarik

to@welovecostarica.com

Andrew Makarik is the main editor of WeLoveCostaRica, a fan of this sunny country. He is also a loving husband and a has a lovely daughter. By being a devoted family man and the biggest Costa Rica fan, he wants to make more people feel at home there. WeLoveCostaRica unites people and helps them find new home or a new travel destination. This website is a friendly community where everyone can find not only information, but also new friends and travel pals. Andrew is also passionate about IT and programming, so he himself maintains a friendly atmosphere in this cozy environment of WeLoveCostaRica.com.