U. S. Median Home Prices
Median Home Prices
This chart shows the estimated market value of the median priced home from 1970 through now.
Notice that the current home median price is down to approx where it was back in 2003.
To me, this means that if you bought real estate, oh say in 2000 or sooner, and you haven’t refinanced since that purchase, then you’re understanding that real estate is a good investment. Especially if you’ve owned it since the late 80’s.
The real estate market will always go up and down in value, but overall it’s a good investment, and can usually happen for you with very little capital out of your own pocket.
Take advantage of the $8,000 take credit that is possibly going away November 30, 2009. That means you’ve got only 57 days left before you’ve thrown away $8,000. Wow, now that would not be a good investment decision.
A fully modernized home is a place where a switch controls everything but the kids, and it has gadgets to do everything? except make the payments.