I was watching television with my wife the other night, when one of the National Association of REALTORS(R) new public awareness commercials came on.  You’ve probably seen them as well – the actress says that home values double every 10 years, and have increased by 6% EVERY YEAR over the last 30 years.  What an investment!

But it’s not true.  I wish they’d stop playing them.  It’s true that real estate is a good investment, but how can you tell a home seller in Detroit that they’re home is going to double every 10 years, when they led the nation in foreclosures in 2007?  A seller has to see that commercial and just steam … I’m sure I would. 

NAR needs to focus on the fact that each market is local.  Apparently, TheBrickRanch.com and the Ohio Association of REALTORS(R) agrees, and they’ve asked NAR to modify their message.  Hopefully, someone is listening.

(Update 2/16/08: NAR has responded to our calls – we’ll see what comes out of it)