HISTORICAL REAL ESTATE MARKET QUOTES TO PONDER:
"The prices of houses seem to have reached a plateau, and there is reasonable expectation that prices will decline." - Time Magazine 1947e
"Houses cost too much for the mass market. Today's average price is out of reach fro two-thirds of all buyers." Science Digest 1948 (average price at that time: $ 8,000)
"The goal of owning a home seems to be getting beyond the reach of more and more Americans." Business Week 1969 (average price at that time $ 28,000)
"The era of easy profits in real estate maybe drawing to a close." -Money Magazine 1981
"If you are looking to buy, be careful. Rising home values are not a sure thing anymore." -Miami Herald 1985
"Most economists agree...a home will become little more than a roof and tax deduction, certainly not the lucrative investment in was..." Money Magazine 1986
"We've started to go back to the time when you bought a home not it's potential money-making abilities, but rather as a nesting spot." Los Angeles Times 1993 (Note that1993 was absolute low-point for the real estate values in L.A. Prices have sky-rocketed since.)
"Financial planners agree that houses will continue to be poor investment." Kiplinger Personal Financial Magazine 1993
"A home is where the bad investment is." San Francisco Examiner 1996
Current Local Bottom Line:
"...SO JUST WHEN is the real estate bubble going to burst in Marin?...If you are planning to keep your home for a reasonable period, and can afford to buy one in Marin - and the sobering reality is fewer people can - the Marin "bubble" has shown it has a pretty thick wall. If you are waiting for a better time to buy in Marin, good luck." Marin IJ March 2007
Victoria Wells/ Broker CB Marin
415-464-3380 http://www.marinbesthomes.com/
Comments(2)