My friend Sara at the office shared the following today:
Los Angeles economist Gary Watts gave a talk to the Orange County California Realtors where the main message was - keep news about housing in perspective. The popular press has called an end to housing for some time, says Watts:
"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
"The median price of a home today is approaching $50,000 ... housing experts predict price rises in the future won't be that great." National Business, 1977
"The golden age of risk-free run-ups in home prices is gone." Money Magazine, 1985
"A home is where the bad investment is." San Francisco Examiner, 1996
Property is always a great long-term investment, and can benefit some in the short-term. Talk to a qualified Realtor to know what is going on in an area, and to learn what the media doesn't know yet.....
