"Real Estate Will Underperform Inflation for Decades"
Snip...
"If the last 100 years are any indication of the future, expectations of future price appreciation are not a legitimate reason to buy real estate. A large percentage of the current buyers in the real estate boom of the 2000s are buying based on future price appreciation. Unfortunately, this means that the real estate boom of the 2000s is largely based on a myth. As real estate prices return to levels justified by the legitimate reasons, prices will fall in inflation-adjusted terms. "
Full article from Prudent Bear.
"If the last 100 years are any indication of the future, expectations of future price appreciation are not a legitimate reason to buy real estate. A large percentage of the current buyers in the real estate boom of the 2000s are buying based on future price appreciation. Unfortunately, this means that the real estate boom of the 2000s is largely based on a myth. As real estate prices return to levels justified by the legitimate reasons, prices will fall in inflation-adjusted terms. "
Full article from Prudent Bear.
posted by Little_Silvered at 6:48 PM
4 Comments:
I am also seeing a tremendous increase of for sale by owners in New Jersey due to self promotion sites like NJville.com and craiglist. These types of sites are are making it easier for home owners to sell their own properties for free and pass the savings off to the new buyers.
Does this mean I'll be able to afford a house in soon?
".......PASS THE SAVINGS OFF To THE NEW BUYERS?
OH I get it you were joking!
Most sellers who try to sell their own home-(without a broker), have the mind set of "why should I share my sale price!
It is not for the intent of the poor buyer! Think just a little
Vat vas I sinking?
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