Dooley Real Estate
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Home Sweet Investment

In a New York Times op-ed piece, Professor Tabarrok of George Mason University cites studies that indicate the current collapse of housing prices will stabilize around the levels that prevailed in 2004. It’s a point we’ve been making to clients for several months now: Balanced against the extraordinary gains real estate enjoyed in the first five years of the 21st century, the current slump simply reduces the average annual gains to a more sustainable level. Of course those who bought or refinanced in 2005 and 2006 may be in for a few nervous years, particularly if their incomes have taken a hit, but our historical appreciation rates (which have well exceeded inflation) should ease the pain going forward.

--Paul Dooley

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