Tracking the Track Record What the Experts say about Housing Prices "Houses cost too much for the mass market. Today's average price is out of reach for two-thirds of all buyers. "- Science Digest 1948 (average price at the 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 the time: $28,000)“The era of easy profits in real estate may be 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 1985Most economists agree…a home will become little more than a roof and a tax deduction, certainly not the lucrative investment it was…”- Money Magazine 1986 “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 1993Note that 1993 was the absolute low-pointfor real estate values in Los Angeles.Prices have sky-rocketed since. “Financial planners agree that houses will continue to be a poor investment.” - Kiplinger’s Personal Financial Magazine 1993“A home is where the bad investment is.”- San Francisco Examiner 1996
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