A possible counter-example to the Terrace Ave story below; or at least a caution

12 Italian-American Avenue (FWIW is nothing if not politically correct) is currently priced at $1.795 million and after just 16 days, is reported to be under contract. That’s quick work, and the sellers, who paid just $1.575 for it in 2016 must be pleased.

But its price history from the last real estate boom perhaps reveals a cautionary note. The previous owners originally put it on the market in June 2004 at $2.350 but, presumably because they received a strong market response, raised the price $45,000 on August 1st to $2.395. That backfired; they couldn’t move it until April 2016, when it sold for $2.340. They could have had that price, or more, a year before.

And as noted, the people who paid even that reduced 2006 price lost $765,000 when they sold it ten years later, after the gold rush. What’s past is prologue? Oh hell, no one reads Shakespeare anymore, let alone reflect on his old dead white man’s wisdom, but maybe “what’s past could be prologue” could be undogmatic enough to work its way through young, unreceptive ears; especially if they’re told it’s a new adage trending on Twitter.