Real estate still good investment
With all the crazy news about real estate the past year it was nice to receive a well thought out article in my inbox today that put a positive spin on the reality of the situation. Peter Mosca wrote a great article laying out the facts that real estate continues to be the best long-term investment. I encourage you to read the entire article. Peter has won several national awards for his work and hits on a lot of key points in this article.
The bottom line is that the media needs to do a better job of explaining the realities of the market. He quotes Pat Combs, 2007 President of the National Association of Realtors.
“When you consider the facts, it’s easy to see why 5.5 million people are choosing to buy a home this year. There are some challenges in the market, but overall there are many more opportunities in local markets today. Real estate continues to be a solid long-term investment.”
“Perceptions about real estate have been skewed in recent months due to the overwhelming focus on national figures. While average sales and prices help us identify trends, the fact is all real estate is local–conditions vary greatly from one city to the next, unfortunately, that news is largely unreported.”
Peter goes on to say that builders have the responsibility to get the word out that real estate is the single best investment one can make.