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Taskiss
PostPosted: Thu Nov 04, 2010 11:45 am 
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Arathain Kelvar wrote:
I can afford the current payments just fine.

To me, this is all that matters. Do you plan on owning that property for the rest of your life? If so, I don't see that it makes a difference what the market does. Personally, I plan on owning more property but holding on to it 'till I retire, then parcel off bits of land as needs and my tax situation requires.

Some folks want gold... I'll take land, thanks. Just don't pay too much for it, and make sure there's water on it.

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TheRiov
PostPosted: Thu Nov 04, 2010 11:52 am 
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Taskiss wrote:
Some folks want gold... I'll take land, thanks.


Wasn't this Lex Luthor's philosophy?

Superman: The Movie wrote:
Miss Teschmacher: Lex, what is this obsession with real estate? All the time --- land, land, land.
Lex Luthor:Miss Teschmacher, when I was six years old, my father said to me...
Miss Teschmacher: "Get out!"
Lex Luthor: [laughs] Nope. Before that... He said, "Son... Stocks may rise and fall, utilities and transportation systems may collapse, People are no damn good --- but they will always need land, and they will pay through the nose to get it. Remember," my father said...
Otis: Land.


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Taskiss
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PostPosted: Thu Nov 04, 2010 11:54 am 
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They'll never make or find more. There's only so much here, at lease until we annex Canada.

My grandparents owned 80 acres in what used to be an hour and a half away from downtown. My parents sold the land, and with the improvements in the transportation infrastructure, it was about 20 minutes away and worth several orders of magnitude more, 30 years later.

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Last edited by Taskiss on Thu Nov 04, 2010 11:58 am, edited 1 time in total.

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Arathain Kelvar
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PostPosted: Thu Nov 04, 2010 11:57 am 
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Taskiss wrote:
They'll never make or find more.


Tell that to Dubai.
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Micheal
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PostPosted: Thu Nov 04, 2010 12:02 pm 
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My in-laws wee parceling out grandma's real estate outside Tucson as the town grew to it. No reason to sell before then, but when the developers come in and offer big money, they went for it. They still have a very nice retirement income from some rentals and his pension.

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Lonedar
PostPosted: Thu Nov 04, 2010 12:38 pm 
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Khross wrote:
Xequecal wrote:
Müs wrote:
Because if they foreclose or short sale, the bank gets the balance of the money from the government. If you just sell it, they have to eat it.
Really? I thought Obama's priority was to stop foreclosures, not encourage them.
You're one of those people who keeps smacking themselves in the face with a hammer and hoping the result will change, aren't you?


Not sure if accidental, but this post is win.
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