Lancaster PA Real Estate Blog

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The End Is Near!

I thought I'd share some prognostications from talking heads in the media that I came across recently: Lancaster PA Real Estate, Lancaster County Home Prices

  • “The prices of houses seem to have reached a plateau, and there is reasonable expectancy that prices will decline." (Time, December 1, 1947)
  • “Houses cost too much for the mass market. Today’s average price is around $8,000—out of reach for two-thirds of all buyers." (Science Digest, April, 1948)
  • "The goal of owning a home seems to be getting beyond the reach of more and more Americans. The typical new house today costs $28,000." (Business Week, September 4, 1969)
  • "The era of easy profits in real estate may be drawing to a close." (Money, January, 1981)
  • "The golden-age of risk-free run-ups in home prices is gone." (Money, March 1985)
  • "Most economists agree… [a home] will become little more than a roof and a tax deduction, certainly not the lucrative investment it was through much of the 1980s." (Money, 1986)
  • "Financial planners agree that houses will continue to be a poor investment." (Kiplinger’s Personal Financial Magazine, November 1993)


20 comments • Jeff R. Geoghan - Marketing Evangelist and VP • April 22 2008 01:16PM

Comments

Jeff is money Magazine still in business, I don't get it and apparently wouldn't subscribing any time soon. It's funny how wrong people can be, and still be working- look at the weather men
Posted by Steve Loynd, Alpine Lakes Real Estate Inc., Loon Mt, NH. almost 4 years ago
The more things change, the more they stay the same!  Great quotes - I may have to start incorporating them into my outside blog. 
Posted by Margaret Woda, Maryland Real Estate & Military Relocation Services (Long & Foster Real Estate, Inc., Crofton, MD) almost 4 years ago
Jeff - Very interesting indeed.  I spoke to somebody the other day who made mention of this very thing.  Perhaps I'll stick to reading the funny pages:-)
Posted by Jason Sardi (I love kittens cute & My Jennifer!!) almost 4 years ago

History repeats itself once again.....(big sigh).... The buyers better come back now, we are at bottom! Next year they'll be whining "I should have bought last year...) Yaa Daa Yaa Daa Yaa Daa.

 

Posted by April Hayden-Munson Realtor Brookfield Wisconsin Real Estate 414-617-6728 (RE/MAX Broker Assoc. www.movewithapril.com) almost 4 years ago
Jeff, this is a great collections of quotes!  It's a good little reminder that the gloomers may well be wrong!
Posted by Patricia Kennedy (Evers & Company Realtors) almost 4 years ago

I do not ever believe that things are as bad as the news portrays it.  Most people are working, eating, living somewhere, and doing all the things they normally do.

Posted by Robert Machado, CPM MPM Sacramento Area Property Manager and Property Management (HomePointe Property Management, CRMC) almost 4 years ago
Jeff, Shakespeare said to kill all the lawyers... What should we do with all the prognosticators?
Posted by Brian Block -- Northern Virginia & D.C. Real Estate (RE/MAX Allegiance, Managing Broker/Branch Vice President) almost 4 years ago
Nice group of quotes from the "experts".  Isnt it amazing how you could have mixed up the dates and the info (aside from price) would still be the same...?
Posted by Clint Miller (Real Estate Pipeline, Inc.) almost 4 years ago

Steve Loynd

Steve - I don't think I've ever read Money magazine.  Good example with the weathermen! 

Posted by Jeff R. Geoghan - Marketing Evangelist and VP (Coldwell Banker Select Professionals) almost 4 years ago

Margaret Woda, Maryland REALTOR

You are just so productive, Margaret!  Go ahead and use the quotes...enjoy! 

Posted by Jeff R. Geoghan - Marketing Evangelist and VP (Coldwell Banker Select Professionals) almost 4 years ago

Jason Sardi, Pennsylvania Mortgage Broker  

At least the funnies are trying to make you laugh, Jason.  They're not taking themselves too seriously... 

Posted by Jeff R. Geoghan - Marketing Evangelist and VP (Coldwell Banker Select Professionals) almost 4 years ago

April Hayden-Munson Realtor, Southeastern Wisconsin

LOL April!  You will probably be proven right next year. 

Posted by Jeff R. Geoghan - Marketing Evangelist and VP (Coldwell Banker Select Professionals) almost 4 years ago

Patricia Kennedy

Gloomy gloomy!  It sells, right? I'd rather not be gloomy - I'll stick to local stats and analysis.

Posted by Jeff R. Geoghan - Marketing Evangelist and VP (Coldwell Banker Select Professionals) almost 4 years ago

Robert Machado, CPM, MPM  

Robert, I like your perspective.  As long as there's a need for homes, land and houses will be in demand.   

Posted by Jeff R. Geoghan - Marketing Evangelist and VP (Coldwell Banker Select Professionals) almost 4 years ago

Brian Block -- Northern Virginia & D.C. Real Estate

Hmmm. Are you suggesting something violent, Brian?  Let's just agree to ignore them, why don't we? 

Posted by Jeff R. Geoghan - Marketing Evangelist and VP (Coldwell Banker Select Professionals) almost 4 years ago

Clint Miller with Real Estate Client Referrals

Why don't we challenge ourselves to find some 2007-2008 examples and post them on our blogs?  Post your links here!

 

 

Posted by Jeff R. Geoghan - Marketing Evangelist and VP (Coldwell Banker Select Professionals) almost 4 years ago
So true...   I will never understand why people choose to believe some things in the media over others.
Posted by Sandra Carlisle, DRE# 01364315 (First Team Estates) almost 4 years ago

Sandra Carlisle - Luxury Homes on the Coast

Thanks for the comment, Sandra - bad news sells, right? 

Posted by Jeff R. Geoghan - Marketing Evangelist and VP (Coldwell Banker Select Professionals) almost 4 years ago

Jeff, your examples remind me of the famous photo of Harry Truman holding up the newspaper headline, "DEWEY WINS!"

What do you think about the  Prince Street Cafe we were talking about - for the next summit?

Posted by Brian Schulman - Your Lancaster County, PA Real Estate Expert (Coldwell Banker Select Professionals, Lancaster PA) almost 4 years ago
Jeff - Thanks for the okay.  Actually, what I did was to link FocusOnCrofton readers to your post.
Posted by Margaret Woda, Maryland Real Estate & Military Relocation Services (Long & Foster Real Estate, Inc., Crofton, MD) almost 4 years ago

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