Tri-Cities, Washington (Kennewick, Pasco, Richland) Real Estate Center

Blog by Paul Roy

Kennewick, Washington

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Past Quotes from Real Estate Experts

Posted at Tri-Cities, Washington (Kennewick, Pasco, Richland) Real Estate Center by Paul Roy

Nov. 26, 2008

Categorized in: Tri-Cities Market Conditions

Tagged with: homes, houses, kennewick, market, pasco, real estate, richland

Here are quotes back from 1947 to current about the real estate market. I thought this was very interesting and most of them sound familiar with today's comments of the supposed Real Estate crisis.

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. The 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.” (NEA 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)