In these turbulent economic times we have an unprecedented opportunity to talk with our teens about how to responsibly move toward the American dream of home ownership. There are many free sites online that can be used to give practical, real time examples of the house market around our nation. Whether we are looking at Austin Real Estate or homes in Seattle, the different values of homes in various areas, is something we need to explain to our children. The value as it relates to each person's financial situation is a topic that is better learned on paper than after bad financial decisions have been made in the real world. We can even look at different areas within a large city to compare home markets within blocks of one another such as in the round rock Texas real estate market.
No matter how the topic is shared with our children, the point is to bring up the truth that buying a home can be a joyous occasion, but if we buy it without a full understanding of our personal finances, it can quickly become a desaster of a decision.
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