While, of course, all real estate is local, housing values have increased in the US, especially since the bust of 2008-2009. Currently, about 5 percent of homeowners are still upside down on their houses (their mortgage balance is more than the house is worth), but that number was 25 percent in 2009.
However, given the local nature of real estate not all markets are the same. In Miami (13 percent of homeowners with negative equity), Chicago (10 percent) and Las Vegas (9 percent) the recovery from the housing/mortgage crisis is not complete.
Although we have a very nice house, my wonderful wife and I would probably rather live in a 10-car garage with an attached house. That way, we could have more things like this:
From wallpaperup.com a picture of a 1968 AMC Javelin, a favorite of both my wonderful wife and me. Maybe one day…