A 3.4% loss for Las Vegas real estate in 2007???
A 21% gain for Panama City, Florida???????????
Most investment publishers like MONEY and most real estate get-rich-quick websites constantly cheerlead markets. CNBC does it too. They want you to buy into the notion that investing is easy and fun and everyone can do it in your spare time on weekends between trips to the mall and mowing the lawn.
It's not. It's hard work and risky. 80% of investors in any market lose money. Even the professionals are not immune. They lose money at the same rate as the amateurs. Successful investing requires highly specialized knowledge, detailed analysis, and most of all, the patience of a saint.
Don't just take what you read on the Internet with a grain of salt. Understand that most of what you read is being written by people that want to sell you something. There is nothing fundamentally wrong with that. I have a website for that purpose too. But what is important is whether they are trying to give you the truth along with that magazine subscription or home study course---or just sell you the course alone by any means necessary.
MONEY Magazine should actually do a full issue where it does nothing but explain its bad investment calls. It would be about 7,000 pages long and that would just cover the last five years.
Robert J. Abalos, Esq.