Don’t always believe the headlines you read!
Don’t always believe the headlines you read!
With thanks from Tom Tognoli, COO Intero Real Estate:
Here is a little proof that you can’t always believe the headlines. Imagine if you purchased a home each of these years what your net worth would look like today.
“A home is where the bad investment is.”
–
“Financial planners agree that houses will continue to be a poor investment.”
– Kiplinger’s Personal Financial Magazine, 1993
“We’re starting to go back to the time when you bought a home not for its potential money-making abilities, but rather as a nesting spot.”
– Los Angeles Times, 1993 (Note: 1993 was the absolute low-point for real estate values in
“Most economists agree…a home will become little more than a roof and a tax deduction, certainly mot the lucrative investment it was….”
– Money Magazine, 1986
“If you are looking to buy, be careful. Rising home values are not a sure thing anymore.”
–
“The era of easy profits in real estate may be drawing to a close.” (Average price at the time: $28,000)
– Money Magazine, 1981
“The goal of owning a home seems to be getting beyond the reach of more and more Americans.” (Average price at the time: $28,000)
– Business Week, 1969
“The prices of houses seem to have reached a plateau, and there is reasonable expectancy that prices will decline.”
– Time Magazine, 1947
No matter what the market tends to be, where you buy, where you lay down your flag to call home, real estate will still shine brighter then any other investment, even though to most people real estate is a liability and not an asset unless you are receiving passive income because of you being the owner of that such property.
We will see how everything around the globe will deal with real estate and regardless of the situation everything will turn out just fine eventually, of course if anything is like history it will, steadily fight it’s way back to stability.
By Julio Mattos
Taking Daily Action
http://www.mrjulio.com