WOW! How many stocks have had 450% appreciation since 1980? Thats only 30 years! If you had bought a home in Hawaii when your generation-xer was born, you might be able to pay off the college loans with the sale today. We hear so often about the stock that was bought back at the initial offering that is worth a lot today, but we don't get the same reports from long term real estate owners.
According to an 88 page report from the Office of Federal Housing Enterprise Oversight (OFHEO), Hawaii real estate sales were number 29 in the list of states that had "...positive four-quarter appreciation" in 2007...". I'd love to own a piece of Hawaii! You could write of the trips to make sure it was ok, and of course get pineapple while you are there.
The data from the OFHEO report has lots of positive information. The list of states and their ranking by appreciation over 2007 is on page 25 of the report. 80% of states had positive appreciation in 2007 according to page 25 of the report. And, of the 291 major cities monitored in the report, 65% had appreciation. Statistics can be used to make any point you want. This report uses a few different set of statistics to show different aspects of the housing market.
US real estate provides one of the best available forms of investment for people looking to grow wealth over the long run.
The report can be found at: http://www.ofheo.gov/media/pdf/4q07hpi.pdf
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Heath Coker, Associate Broker
Robert Paul Properties
www.CapeGroup.com / capegroup@capegroup.com
508-274-5613 Licensed in MA
Its a beautiful day on Cape Cod!
@CapeGroup Skype: heath.coker
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