For generations, it has been an axiom that the purchase of a home is the greatest single investment the average person makes. The corollary has always been that if you take good care of that home it will inevitably be a good investment, permitting you to sell your home at a profit or allowing you to take out a large loan on the equity you ve built up. While the axiom is still true, the corollary is no longer true. Many Americans have lost their homes due to the Great Recession and still more owe more on their homes than the homes are worth. People once made a lot of money on flipping homes;...

For generations, it has been an axiom that the purchase of a home is the greatest single investment the average person makes. The corollary has always been that if you take good care of that home it will inevitably be a good investment, permitting you to sell your home at a profit or allowing you to take out a large loan on the equity you ve built up. While the axiom is still true, the corollary is no longer true. Many Americans have lost their homes due to the Great Recession and still more owe more on their homes than the homes are worth. People once made a lot of money on flipping homes;...