4 Big Reasons To Be Optimistic About 2008 San Diego Real Estate Trends
January 8th, 2008 Categories: Mortgage News, Real Estate News
I was reviewing some headlines recently and I wanted to share these facts with you. Do the headlines I’ve listed below sound familiar to you as we head into the 2008 Real Estate Market?
1. “Historically Real Estate downturns in the United States last 27 months”.
2. ”The goal of owning a home seems to be getting out of reach for most Americans”.
3. ”The golden age of risk free run ups in home prices is gone”.
4. ” A home is where the bad investment is”.
Ok, so now let’s take a little look at the History behind these quotes. You just might be surprised that they aren’t as recent as you think!
1. “Historically, Real Estate downturns last 27 months”. (We are currently in month 25!)
2. ”The goal of owning a home seems to be getting out of reach for most Americans” – 1969 Business Week article. The average price of a home was 28,000 and it was over 24 years before interest rates went down to 7 % again!
3. “The golden age of risk free run ups in home prices is gone” – 1985 Money Magazine Article. As we know now, prices continued to rise!
4. “ A home is where the bad investment is” - 1996 Quote from the San Francisco Examiner. Prices rose 19.7% in California over the next 3 years!
Foreclosure news is all over the media and we hear about it every day. News outlets cry that we’re these Foreclosures are at record levels. This may be true but what’s also true is that last year 98.83% of all Mortgages performed!
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