Will prices ever go up? When is a good time to buy?

Do you think the real estate market has no where to go except down? You are not the first one. History proves that even the ‘Experts have had it all wrong, time and time again.’

 

“The prices of houses seem to have reached a plateau, and there is reasonable expectancy that prices will decline.”- Money Magazine 1947

 

“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 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 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 1985

 

“Most economists agree…a home will become little more than a roof and a tax deduction, certainly not a 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 1993 (Note that 1993 was the absolute low-point for 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