The housing market experienced a sharp decline starting in 2007 that destroyed approximately $6 trillion in household wealth. Since what has been described as the bursting of the real estate bubble, many Americans are understandably reluctant to invest in a home, especially first-time house buyers. Here are some facts to help curb that anxiety and some tips for homebuyers looking to avoid the ill effects of another bubble burst. The State of the Housing Market Since the bubble burst, many Americans may be happily surprised to learn how quickly the real estate industry strengthened itself. The recent rebuilding of the…