Mental Fitness and the Falling Value of Your House

Les Christie of CNNMoney.comreported that the home price plunge remained on a record pace through out the summer.  "The S&P Case-Shiller Home Price national index recorded a 16.6% decline in the third quarter compared with the same period a year ago".

Home prices are down 20% since July 2006.  Stephen Gandel of Money Magazine predicted that prices of homes will fall further during the last quarter of this year.  18.6 million homes are sitting vacant in the United States.  2.8% of house mortgages are three months in arrearage. 

In Forecast 2009: Your Home,  "Economist Nouriel Roubini of New York University, who accurately predicted the housing slide and credit crisis, expects another 20% decline in home prices next year". 

From a mental fitness perspective, how do we cope with four years of declining values in our homes?

The decline in the value of our homes is devastating.  In reality there is nothing we can do about the declining home market.  Therefore, from a mental fitness perspective, it is important to accept the reality of what is happening to the market value of our homes.  We do not have to like it, but we must accept it.

We must remember that the value of her home is more than monetary.  We cannot allow the unstable economic conditions to determine the psychological value of our homes.

How we think about our homes is more important psychologically than what the economy thinks about our homes.  Our homes can remain our sanctuary.  Our homes are where we raise our families and enjoy the interactions of family living. 

Our homes are still where we experience the joy and sadness of everyday life.  Our homes are where our dreams are born.  Our homes give life and substance to everything that is good in life.

From a mental fitness perspective, it is important to not allow the economy to rob us of our joy and meaning of living life.

From a mental fitness perspective, we can learn to live one day at a time and enjoy the substance of the day.

We can find freedom from the troubled economy and declining home values, by focusing on making the best decisions to take care of ourselves and our families on a daily basis.

We must remember that our true happiness, peace of mind, freedom and control over our lives is not determined by the economy, but rather from the choices we make in both good and bad economic times.

Remenber, We Live with the Environment Created by Our Choices!

Dr. Hal

Life and Mental Fitness Coach