Most of us have heard our parents (or grandparents) marvel at the fact that they paid $15,000 for their first house and witnessed their glee at how much it’s worth now. Some of us can also remember houses we owned that are now worth substantially more than when we sold them.
Why Not Me?
So why didn’t we buy a few of those investment properties? And more to the point, why aren’t we buying them now?
If you look back 10 years or more, it’s almost certain that house prices have increased. It’s almost just as certain that they’ve increased dramatically.
Imagine now that we look forward five or 10 years. Is it reasonable to assume higher home prices (and increased value and equity) over what exists today? History says yes. Even some of the roughest real estate eras turned out to be excellent launching pads for investing, given the proper foresight, which requires a bit of knowledge of the real estate market…
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