The Importance of Making Up Our Own Minds on Vancouver Real Estate

A colleague of mine (Naomi Larkin of Royal LePage Coast Capital in Victoria, BC) recently shared these quotes with me. They wouldn’t be out of place in much of today’s media (with altered values, of course).

I think that it’s important to realize that the real estate market is cyclical. We see down markets as well as up markets. However, over the course of the past 100 years there have been few investments that have outpaced an investment in your own home.

“The prices of houses seem to have reached a plateau, and there is reasonable expectancy that prices will decline.” -Time Magazine, 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, 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 about $28,000.” -BusinessWeek, 1969

“The median price of a home today is approaching $50,000…Housing experts predict price rises in the future won’t be that great.” -Nations Business, 1977

“The era of easy profits in real estate may be drawing to a close.” -Money Magazine, 1985

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

Financial planners agree that houses will continue to be a poor investment.” -Kiplinger’s Personal Finance, 1993