It was about 6 years ago. The last real estate upcycle had begun to stall out. New construction sales slowed. A local builder took it upon himself to convince wary buyers that it was an excellent time to buy.
In our January 2008 post here at MBC (see "A Builder's Take"), we copied this extraordinary half-page print ad placed by the builder and discussed the ad's message. (Click to enlarge.)
Memorably titled, "The Crystal Ball Story," the ad said that new home prices could not go lower, and that buying in early 2008, you'd find your investment up 20% in 5 years.
As time has passed, the message of the half-page ad has proved to be about half right and about half wrong.
The wrong parts are easy to spot. The ad noted that many (then) new homes were built…