Apparently, real estate is a can’t-fail investment right now. Or at least, that’s the questionable gospel the National Association of Realtors is preaching, in a blitz of new commercials claiming that home values, on average, double every 10 years, and that a home is “the key to building long-term wealth,” Advertising Age reports. Housing crash? What housing crash?
The truth, of course, is that home prices are mostly in free fall. The ads, and the website they point to, use historical statistics that may not reflect the new, post-bubble reality. One consumer advocate accused the ads of “trying to lead you down a road with blinders on,” while others stressed just how risky buying a home is right now.