jmmom
September 26, 2007, 1:57pm
53
<p>
ucsd<em>ucla</em>dad in 2006:
It goes up…it goes down…it goes up…it goes down. This is what real estate in most places has always done but with an overall trend of up. Anyon who expects property to only go up and never have a down-turn in any short term has unrealistic expectations. The fact is that almost all property will go up long-term so it remains a great investment. Just plan to keep any property 3-5 years and you can generally assume the property will have appreciated. If one plans to flip a property in less than 3 years, there’ll be a risk. If one leverages most of the equity to pay for consumables such as cars, RVs, vacations, college education, etc., then they’re at risk of owing more on the property than it’s worth in the short term.</p>
<p>I don’t really know the point of the thread since it’s pretty much status quo for the real estate field. Regardless, real estate remains one of the best and most stable investments one can make (over the long term). People just need to be realistic when they purchase to avoid buying high/selling low and not expect short-term gains.
In 250 words or less, he has said it all. It was true when he said it. It was true one…two…ten… or twenty years before he said it. It is true today. It will be true next week, next year and in 10 years.</p>
<p><em>btw, in our little corner of the world, prices and # of sales are up for two months in a row</em></p>