Here’s a real interesting story: Why home prices will never recover.
Okay, you might be thinking, ‘Please tell us, BREB. Why?’ Well, it’s because of inflation. The recent housing bubble really was the exception, not the norm, when it comes to home prices exceeding the pace of inflation, according to the article and its charts. So buying home as an investment actually worked out well in the decade or so before the recent crash. But long-term historical data show home investments aren’t such a good investment.
Does that mean you shouldn’t buy a home then? Nope. It’s still a good idea. Home buying is a good hedge against inflation; there are tax benefits; and mortgage payments look awful cheap decades later as prices continue to rise along with inflation. It’s also nice to have a home paid off once you retire.
But as investments? The historic data just isn’t there to support the idea they’re good investments per se, unless you view homes as a form of low-yield bonds.
Contact me to find to set up an appointment to start your Boston condo buying process.
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