Sorry California. Too bad, Florida. Nevada, close your eyes. Last Thursday the government’s index for housing stated that Kansas had appreciation in the first quarter of 2008 was 2.7%. Missouri was 1.7%. And the Kansas City area housing prices were up “a little less than 1 percent in the first quarter.” (This is as compared to the first quarter of 2007.)
I’ve said it here over and over and over again. Some people are still not getting the message. Kansas City real estate investment property is a safe haven. Not full proof. Not perfect. In great years we might get 7%-10% growth. But in bad years we may only decline slightly or still manage to pull out very modest gains.
Think about that. Forty-three states lost value. Kansas and Missouri housing chose not to participate. What’s the old saying: “Slow and steady wins the race.”