Okay, thank you all for your comments on the previous post.
I understand real estate is an issue that gets very passionate responses from everyone - on both sides of the argument. I, for one, will never - repeat never - favor the stock market over real estate.
This blog is my opinion, from what I have read, and what I have experienced.
It is meant as an educational tool and does not supplement your own research.
It is a starting point, for the un-jaded, if you will.
And I AM willing to put my money where my mouth is.
Let's just agree to disagree, shall we?
Tuesday, July 10, 2007
A Reflection on Real Estate Blogs
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3 comments:
Do you agree, however, that in the last real estate bubble, which California reached a peak in 1991, houses lost value for the following 5 years?
And didn't reach new highs until 7 years later?
http://www.realestateabc.com/graphs/calmedian.htm
Obviously you can't expect that this will be the exact same set of circumstances. But you have to agree that we certainly did have a bubble. And you have to agree that, historically, bubbles take longer than 2 years to correct themselves.
History suggests that we won't see the bottom of the bubble until around 2010. Though mileage in individual markets may vary.
"It is meant as an educational tool and does not supplement your own research."
Not to be picky, but your blog is supposed to be educational, yet you don't want us to add it's information to our own research?
I know, you didn't mean supplement, you really meant "supplant".
But if you want to try to "educate", I strongly urge you to incorporate more facts into your writing. For example, you claimed in the last post that "most" millionaires made their fortunes in real estate? Is that a fact? Can you provide any statistical evidence? Or is that just "from your experience"?
Sure, there's always market ups and downs - sometimes pretty drastic ones. Nowhere have I said that the real estate market always goes up all the time, but in the long term, people have to live somewhere and demand increases, so prices go back up. Again, it doesn't happen everywhere. I specialize in Sacramento. I know about Sacramento.
And yes, to be very honest, IN MY EXPERIENCE, all the millionaires I know have made their money or hold their money in real estate (not all of which I sold to them, by the way)
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