Friday, January 15, 2010

Why the small bumps don't matter.

In the Edmonton Sun article about a decade of change:


- - Average Edmonton house price, 1999: $120,254

- - Average Edmonton house price, 2009: $318,482

My thoughts exactly, well, except I DID buy real estate over this period and helped many other people invest easily. Over the long run owning a quality property in a stable market with strong economic fundamentals is like having your own perpetual money machine.

Theodore Roosevelt said it precisely:

"Every person who invests in well-selected real estate in a growing section of a prosperous community adopts the surest and safest method of becoming independent, for real estate is the basis of wealth."

It's only 15 days into January of this year but the feeling everywhere is of positive expectation, the economy looks great, the real estate market is balanced and Edmonton is preparing to go off.

So tell me again, "Why don't you want to buy real estate?"

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