Please keep these in mind when you begin to panic over today’s market analysis findings by our lovely media outlets….
“The prices of houses seem to have reached a plateau, and there is reasonable expectation that prices will decline.” – Time Magazine 1947e
“Houses cost too much for the mass market. Today’s average price is out of reach fro two-thirds of all buyers.” Science Digest 1948 ( average price at that time: $ 8,000)
“The goal of owning a home seems to be getting beyond the reach of more and more Americans.” Business Week 1969 ( average price at that time $ 28,000)
“The era of easy profits in real estate maybe drawing to a close.” –Money Magazine 1981
“If you are looking to buy, be careful. Rising home values are not a sure thing anymore.” –Miami Herald 1985
“Most economists agree…a home will become little more than a roof and tax deduction, certainly not the lucrative investment in was…” Money Magazine 1986
“We’ve started to go back to the time when you bought a home not it’s potential money-making abilities, but rather as a nesting spot.” Los Angeles Times 1993 ( Note that 1993 was THE absolute low-point for the real estate values in L.A. Prices have sky-rocketed since.)
“Financial planners agree that houses will continue to be poor investment.” Kiplinger Personal Financial Magazine 1993
“A home is where the bad investment is.” San Francisco Examiner 1996
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