Home prices are rising. They're back to the inflation adjusted levels of --- 1894.
So the next time somebody tries to tell you that houses are a great personal investment, tell them the truth.
The real estate industry, the bankers and the government knows best gang have brainwashed the American public for far too long now.
It's time we all started telling each other the truth. So here goes.
Home Prices Are Back ... To 1894's Levels tells the tale:
"Six years after the onset of the traumatic US housing crisis, the optics are there that suggest a stabilization is occurring. . . . the sad truth is that jobs (and the GDP-enhancing multiplier effect that they create) are just not coming. Even Bob Shiller prefers the potential for 4% gains in stocks over housing risk in the medium-term as he points out that - inflation-adjusted - house prices are back at levels first seen in 1894... now that is a long-term investor."
Housing prices approximately doubled in inflation adjusted terms from 1995 to 2006.
They had been stable for the hundred years prior to the "bubble" days.
Then the bubble burst.
And now let's learn from history.
Pass it on.