People came to expect real estate to be a relatively short-term investment instead of the long-term investment it used to be thought of.
Only in the most active housing markets, and then only for short periods of time, can real estate return double-digit gains (or even high single digit caings!).
Every such situation leads to overbuilding and then housing price crashes. This is why people like who push those late night real estate packages kept going from millionaire to broke every few years (and had to turn to infomercials to make money consistently!). :D
Your home should be an investment in the sense that a well-built home will stay ahead of inflation over the long term while it provides you with a place to live. People forget that last part, which is the most important part. Who wants to live in a house that fluctuates in value like the stock market? You'd never want to make major improvements!
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timeasmymeasure
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Date: 2007-10-22 02:28 am (UTC)People came to expect real estate to be a relatively short-term investment instead of the long-term investment it used to be thought of.
Only in the most active housing markets, and then only for short periods of time, can real estate return double-digit gains (or even high single digit caings!).
Every such situation leads to overbuilding and then housing price crashes. This is why people like who push those late night real estate packages kept going from millionaire to broke every few years (and had to turn to infomercials to make money consistently!). :D
Your home should be an investment in the sense that a well-built home will stay ahead of inflation over the long term while it provides you with a place to live. People forget that last part, which is the most important part. Who wants to live in a house that fluctuates in value like the stock market? You'd never want to make major improvements!