This is a great article.
The author puts a lot of things into perspective that many have either forgotten, or are two young to have realized. We all know markets are largely cyclical and historically housing market plunges have returned to positive territory, but it’s only been the past 20-30 years that we’ve had the luxury of booming real estate on a large scale.
The article discusses how prior to the 1980’s houses were called “money pits” and sellers were lucky to get what they paid out of their houses when they sold, and a home was just that, a home.
Homes are a great tool to gain personal wealth through equity and sound decison making. Not every home purchase will make you money, and that’s a reality we must face. In the 1990’s and early 2000’s real estate was climbing and flipping was a popular sport. I myself profited from several great short term investments, but have since normalized that return with my current investments in today’s market.
Overall – the point of the article is you need to be in the market long term with Real Estate (just like any other investment), there’s no magic bullet that shoots you to wealth and “Flip This House” TV stardom. The money still sits with those who make well planned and educated decisions.
Interested in buying an investment property? I know of quite a few will help you make the right decisions. Shoot me an email.