Real Estate Flashback!

The 2010 Top 10 Real Estate Trends Report is now out and discusses many current trends and predictions in the real estate market. Here are some quotes below for a little flashback to remind you how far the real estate market has come in the past 60 years and some predictions that were made in past years. It’s really interesting to see how far we are in 2010…

“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