Coconut Grove Real Estate Outperforms The Stock Market in 2008
December 21st, 2008 categories: Coconut Grove Real Estate
When you compare the real estate market in Coconut Grove to the Dow Jones Industrial Average over the past year, purchasing a home in Coconut Grove would have been the better bet.
Here are the statistics of 2008 to date:
- The Dow Jones Industrial Average lost 31%
- Average price of homes sold in Coconut Grove fell 13.2%
Lets take a look at 2007:
- The Dow Jones Industrial Average gained 8.8%
- Average price of homes sold in Coconut Grove fell 7.6%
On that note, real estate is just like any other investment, it comes with risk attached. Many people believe that even though jobs are being lost, the stock market is falling and businesses are struggling, that they should still realize a gain on the sale of their home just because it is “real estate”. For some reason, when your stock portfolio loses 10-20% it is easier to swallow than when your home has depreciated in value 10-20%.
Pretty much everyone lost money in their investments this year, but if you invested yours in a home here in Coconut Grove you lost less than most.
You may also be interested in: Coconut Grove Foreclosures, One Has Sold, Another For Sale, Gated Communities in Coconut Grove, A Foreclosure Story in Coconut Grove
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