Friday, October 29, 2010

Professor: Now Is The Time To Buy A House


Highlights from NPR's interview with Professor Karl Case:

  • The
    Case-Shiller Index is one of the best measures of home values.
  • Eventually, when [house] prices get down
    low enough, people are going to buy this property, all right? And
    they're going to buy it up and they're going to live in it. And by all
    historical standards, they're getting a pretty good bargain right now.
  • It certainly is the best time [to buy a home] we've seen in the last four, five
    years, and maybe in my lifetime. And if you look at some of the property
    values that are out there, one of the things that people forget is that
    a house is a consumer durable good. It's not just an investment. If
    you're going to hold it for a long time you live in it and you derive
    from it housing services that have a real value.
  • So if you don't think of housing just as something to earn you
    capital gains in the long run, but something you're going to live in and
    you can afford to make the payments on it, it looks to be a pretty good
    deal. And by the way, the income - that form of income is completely
    tax free.
Listen to the whole story here:

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