Think about it: Are real estate prices higher now than they were ten years ago? Absolutely! Think about what your parents paid for their house. (For example, a friend0s father paid $12,600 for his home back in 1963. Today the home is worth $415,000.) Rent prices also continue to rise. Years from now, the price you0ll pay for the average home will be much higher than it is today.
In 2003, the U.S. government published statistics regarding median home prices. Take a look at how rapidly the average home has appreciated over the past 35 years:
1970 $23,000
1975 $35,300
1980 […]

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