“The prices of houses seem to have reached a plateau, and there is reasonable expectancy that prices will decline.” –Time Magazine, 1947
“Houses cost so much for the mass market. Today’s average price is around $8,000- out of reach for two-thirds of all buyers.” –Science Digest, 1948
“The goal of owning a home seems to be getting beyond the reach of more and more Americans. The typical new house today costs about $28,000.” –Business Week, 1969
“You might well be suspicious of ‘common wisdom’ that tells you, ‘Don’t wait, buy now… Continuing inflation will force home prices and rents higher and higher.’ “ –NEA Journal, 1970
“The medium price of a home today is approaching $50,000 …Housing experts predict price rises in the future won’t be that great.” –Nations Business, 1977
“The era of easy profits in real estate may be drawing to a close.” –Money Magazine, 1981
“The golden-age of risk-free run-ups in home prices is gone.” –Money Magazine, 1985
“Most economists agree… (a home) will become little more than a roof and a tax deduction, certainly not the lucrative investment it was through much of the 1980s.” –Money Magazine, 1986
“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
Here is a little something to take away from this. As with all predictions, especially economic ones; there are many different and conflicting opinions. The experts, while agreeing on some basic facts are still uncertain about the potential impact of a number of major issues. It is hard to pick sides because nobody can ever be sure about future events.
If you have any questions feel free to call or email me.
Your Real Estate Professional,
Mary-Anne
Source: Swanepoel Trends Report 2010
