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Tuesday, December 13, 2011

Homebuyers are thinking long-term



The attitude of current homebuyers has come a long way since the housing boom. In the past, many homeowners thought of their houses as "credit cards" to borrow money against -- a mindset that caused many of the financial problems we see today. While most Americans still think buying a home is a smart financial move, they also realize that a house is more than an investment. Instead, today's buyers are looking for a home -- a place to provide shelter and security for a family. As a result, homeowners are planning on stay in their dwellings longer; first-time homebuyers want to own their homes for a decade, while repeat buyers want to own theirs for 15 years.

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