Steamboat Real Estate Home Search and Blog

If you think Steamboat real estate prices have peaked never to go up again, you need to read the following quotes the real estate “experts” predicted over the last 65 years.  If you have a buy-and-hold philosophy, history teaches that prices will appreciate.

• The prices of houses seem to have reached a plateau, and there is reasonable expectancy that prices will decline.  (Time, December 1, 1947)
• Houses cost too much for the mass market.  Today’s average price is around $8,000—out of reach for two-thirds of all buyers.  (Science Digest, April 1948)
• If you have 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 house 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 about $28,000.  (Business Week, September 4, 1969)
• 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.  (Nation’s Business, June 1977)
• The era of easy profits in real estate may be drawing to a close.  (Money, 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.  (J. E. English and G. E. Cardiff, The Coming Real Estate Crash, Warner Books, 1980)
• The golden age of risk-free run ups in home prices is gone.  (Money, March 1985)
• If you ‘re 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 1980’s. (Money, April 1986)
• We’re starting to go back to the time when yu bought a home not for its potential moneymaking abilities, but rather as a nesting spot. (LA Times, January 31, 1993)
• Financial planners agree that houses will continue to be a poor investment. (Kiplinger’s Personal Finance Magazine, November 1993)
• A home is where the bad investment is. (San Francisco Examiner, November 17, 1996)
• Your house is a roof over your head.  It is not an investment.  (Karen Ramsey, Everything  You Know About Money Is Wrong, Reagan Books, 1999)