Another Perspective on Buying Real Estate

I read with interest “More Signs of Housing Cool-Down” (May 17).

It is interesting that despite the transitioning market, the California Department of Real Estate, which I head, is licensing real estate professionals in record numbers -- there are nearly 500,000 real estate licenses currently.

As real estate commissioner, I am committed to protecting consumers in real estate transactions and have increased efforts to educate home buyers and renters. Consumers are cautioned to check the licenses of real estate and financial services professionals at www.dre.ca.gov/licinfo.htm.

In addition, consumers should consider history and the fact that the real estate market is cyclical before deciding against purchasing a home as a long-term investment. In general, those who bought real estate in California many years ago and still own it today are much better off for having done so.

Jeff Davi

California Real Estate

Commissioner

Sacramento