PAST QUOTES FROM THE MEDIA REAL ESTATE AND FINANCIAL EXPERTS

•     “The price of houses seems to have reached a plateau, and there is reasonable expectancy that prices will decline.”    (Time Magazine, December 1, 1947)

•      “Houses cost too much for the mass market. Today’s average price is around $8000, out of reach for two-thirds of all buyers.”  (Science Digest, April 1948)

•       “If you bought your house since the war, you have made your deal at the top of the market. The days when you couldn’t lose on a home purchase are no longer with us.”   (House Beautiful, November 1948)

•       “The goal of owning a home seems to be getting beyond the reach of more and more Americans. They typical new house today costs $28,000.”  (Business Week, September 4, 1969)

•       “Be suspicious of the ‘common wisdom’ that tells you to buy now because continuing inflation will force home prices and rents higher and higher.”  (NES Journal, December 1970)

•       “The median price of a home today is approaching $50,000. Housing experts predict that in the future price rises won’t be that great.”   (National Business, June 1977)

•       “The era of easy profits in real estate may be drawing to a close.”  (Money Magazine, January 1981)

•       “…In California for example, it is not unusual to find families of average means buying $100,000 houses. I’m confident prices have passed their peak.” (John Wesley English and Gary Emerson Cardiff, THE COMING REAL ESTATE CRASH, 1980)

•       “The golden age of risk free run-ups in home prices is gone.”  (Money Magazine, March 1985)

•   “If you are looking to buy, be careful. Rising home values are not a sure thing anymore.”   (Miami Herald, October 25, 1985)

•   “Most economists agree, a home will become little more than a roof and a tax deduction, certainly not the lucrative investment it was through much of the 1980s.”   (Money Magazine, 1986)

•   “We’re starting to go back to the time when you bought a home not for its potential money making abilities, but rather as a nesting spot.”   (Los Angeles Times, January 31, 1993)

•   “Financial planners agree that houses will continue to be a poor investment.”  (Kiplinger’s Personal Financial Magazine, November 1993)

•   “A home is where a bad investment is.”   (San Francisco Examiner, November 17, 1996)  “Your house is a roof over your head. It is not an investment.”   (Everything You Know About Money Is Wrong, 2000)