The numbers just came out… and they’re excellent…
The median existing home price is up 15.4% year over year… to $208,000. But even at these higher prices, homes are going fast…
The latest numbers show that houses are only on the market for 41 days before they sell, versus 72 days a year ago. (These numbers are nationwide medians.)
The demand for homes is back, but we don’t have enough supply yet. This means higher prices are ahead.[ad#Google Adsense 336×280-IA]So even though house prices are up, I don’t think you’ve missed it yet…
The opportunity is still great…
Hundreds-of-percent profits are possible, as I’ll show you.
I don’t think I’ll ever see an opportunity this good in U.S. housing again…
Not in my lifetime.
We’re coming off record-low mortgage rates and the largest fall in home prices in my lifetime.
I don’t think we will see these two things happen at the same time and to the same degree ever again.
We’ve only seen an opportunity this good once in history… the 1970s. Back then, buying a home with a mortgage would have resulted in a 680% gain on your initial investment.
From 1970 to 1980, house prices went up from $22,000 to $56,500.
If you bought a house in 1970 with a 20% down payment ($4,400), a decade later you’d be sitting on a 684% return on your initial investment. (This return doesn’t include property taxes or interest or anything. It’s just comparing the initial equity in 1970 – the down payment – to the rise in value by 1980.) The table below shows the math:
Here’s the thing: Housing was affordable in the early 1970s. And house prices soared. Today – after the great bust, and with our ultra-low mortgage rates – housing is affordable again.
Triple-digit gains – even with a big down payment like in the example above – are certainly possible. I expect we’ll see them.
Your upside potential is incredible, by the way… even if interest rates are going up… Interest rates in the 1970s shot up – from 7.5% to near 15%. House prices went straight up, too.
I’ve been urging you to buy real estate in recent years. I hope you’ve followed my advice… You should be up at this point already. The good news is, it ain’t over yet.
If you haven’t followed my advice, you still can. Don’t miss out. Take advantage of it!