Our Comment by J. David Lewis – This article reminds me of a single comment in an economics or finance course before 1980 – maybe before 1970. It was to the effect “The more often the publication is issued and the greater the fanfare, the less likely the story is to have relevance as a predictor.” The article has Time magazine cover-images from 2005 and 2010, with primary stories on housing. The 2005 version seems to promote homes as a way to build wealth, very close to the exact wrong time. The second seems to say homes are the wrong place to put your money now. The text of this WSJ.com article gives ten reasons you may want to go against the cover story on a recent Time magazine.
“Enough with the doom and gloom about homeownership.
Sure, maybe theres more pain to come in the housing market. But when Time magazine starts running covers that declare “Owning a home may no longer make economic sense,” its time to say: Enough is enough. This is what “capitulation” looks like. Everyone has given up. The Sept. 6 cover of Time magazine: This is what capitulation looks like.
After all, at the peak of the bubble five years ago, Time had a different take. “Home Sweet Home,” declared its cover then, as it celebrated the boom and asked: “Will your house make your rich?
But its not enough just to be contrarian. So here are 10 reasons why its good to buy a home.”
Contact J. David Lewis using email@example.com. He founded Resource Advisory Services in 1985. National Association of Personal Financial Advisors (NAPFA) was formed only a few years before. Lewis became a NAPFA-Registered Financial Advisor in 1986. He is a passionate advocate for fiduciary, fee-only financial planning and has been associated with financial services since childhood in a banking family.