2006-12-29 08:27:52 · 12 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Ummm... hard to say in generality. It depends upon the location, local population and local economy. If there are better prospects for the future, the population will grow which means house demand will go up. This means house prices will go up and vice versa.
In the long run, the chances are higher it will go up. The real question is how much...1% , 5% or 50% over 10 years (for eg.) which makes it either good or bad investment wrt other vehicles.
2006-12-29 08:43:46 · answer #1 · answered by Freddy 2 · 0⤊ 0⤋
Over the lifetime of a person residing in a house the value of the house would increase.
If your mother and father purchased a house and still live there asks them how much they paid for the house? You will be surprised.
Now each and every year the housing market might not go up, but look at the market over a 5-10 year period and you will see the appreciation in a house.
My first house I purchased cost $18,000.00 in 1974 or 1975. I had it refinanced about 4 months ago and took some cash out. The appraised value was $650,000.00 Now of course I am in California.
The appreciation depends on the neighborhood also. I moved to a place called Orange county and purchased a home there. When I moved there there were few homes in the area. I paid $34,000.00 Value of the property now is over $1.5 million.
So if you are looking for a long term investment try real estate, but you have to hold onto it for the tax write offs and deduction, appreciation, rental income.
I hope this has been of some use to you, good luck.
"FIGHT ON"
2006-12-29 09:01:14 · answer #2 · answered by Skip 6 · 0⤊ 0⤋
They always go up over the long term. They are about the only thing you can buy like that. They are a very good investment. They will always go up in an area where people will live. They will go up even more based on the demand and what you put into the house.
2006-12-29 15:32:56 · answer #3 · answered by steffiegirl815 3 · 0⤊ 0⤋
Over time house prices will go up, but lately there may have been a dip in prices depending on your area.
2006-12-29 08:51:15 · answer #4 · answered by I'm a believer 2 · 0⤊ 0⤋
Up, for example, if you look at the market in a 10 yr interval you'll see a great price difference... Well, that's speaking in CA terms
2006-12-29 08:38:00 · answer #5 · answered by Skywalking 3 · 0⤊ 0⤋
They always go up! they are one of the very few things that always stay consistent with inflation. They may not go up as fast as they have last year or so but they are always a good long term investment.
2006-12-29 08:36:52 · answer #6 · answered by chaneltaylor430 2 · 0⤊ 0⤋
Always up! Can you buy a run down shack for what your grand mother, as a Young lady paid for it?
2006-12-29 09:00:56 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Up...always. There is no better long term investment vehicle in terms of return and safety of investment capital.
2006-12-29 11:29:40 · answer #8 · answered by loanman46 2 · 0⤊ 0⤋
ALWAYS UP, but you have to be able to hold throughthe downturns to make that work. If you look at real estate over any 10 year period you will see appreciation, but you have to be able to tough out the downturns to make it work...
2006-12-29 08:52:59 · answer #9 · answered by sdmike 5 · 0⤊ 0⤋
"Long run" can have many meanings....
........ houses surely cost more now than 100 years ago.
2006-12-29 09:02:12 · answer #10 · answered by teran_realtor 7 · 0⤊ 0⤋