The real estate market meltdown was much more severe and has lasted much longer than even the most bearish housing market observer would ever have predicted. Rather than values taking a dip, they’ve taken a double dip in many places; and the housing sector drama has infected the job market and the entire world’s economy.

Yet, there are some very shiny silver linings to this whole mess — a handful of ways in which our mindsets, habits, behaviors and approaches to money, mortgage and even life decision-making — have been changed by this real estate market debacle. As I see it, here are the five best things about this otherwise terrible housing recession:

1 – People now buy for the long term.

2 – Dysfunctional properties are being weeded out and creatively reused.

3 – American housing stock is getting an energy-efficient upgrade.

4 – People are making more responsible mortgage decisions, and building financial good habits in the process.

5 – Our feelings about debt and equity have been reformed.

For the entire Inman News article, by Tara-Nicholle Nelson dated September 12, 2011, click here.

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