The Housing Trap

From Casey's Daily Dispatch (scroll down for article), another sign that U.S. housing has still farther to fall.

Casey also debunks (again!) the myth of your personal home as an investment:

IRS data show that during these years [1997-2007], as Americans pocketed $5,312 billion in capital gains, they simultaneously shelled out $5,252 billion in mortgage interest and real estate taxes – a difference so small as to be a rounding error. Over the same period, homeowner costs rose 122% for mortgage interest and 112% for property tax, while personal income increased by a paltry 63%. The cost of home-sweet-home ownership was eating Mr. & Mrs. Suburbia alive.