To be newsworthy, a story must be immediate. That’s why the current real estate market is such a hot media topic-and why the long view doesn’t get much ink or airtime. That’s too bad, because that’s where you’ll find the most compelling real estate story of all.
1969: “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
1977: “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
1985: “The golden-age of risk free run-ups in home prices is gone.” – Money Magazine
1996: Defense cuts had triggered steep home price declines.
“A home is where the bad investment is.” – San Francisco Examiner
In the three years following that last statement, California home prices rose 19.7%, wiping out the losses of the early ’90s and ending the decade with a net gain of 9.35%.
The media continues to play up bad economic news, including real problems in the lending marketplace. The truth is, a home remains the most enduring investment most of us will ever make. That’s because the return goes so very far beyond financial rewards. To own a home is to make a priceless investment in our lives and a confident affirmation about our future.
We’ve noticed that real estate professionals at the top of their game are actually energized by challenging market cycles. It’s an exciting opportunity to show their clients just what they can do.