<b>cutten</b>, if your great-grand relatives ever had any lakefront property on Canandaigua (or Seneca, or Cayuga, etc) Lake inside the past 200 years, your inheritence would not allow you to trade financial markets. You couldn't afford to dabble with stocks, had your family tree stretched back a ways there. Likewise, every generation since has balked at buying lakefront properties here... but those who did have always gained methodical wealth. I'm not talking about the morons stuck with four mortgages in Realty Bubble USA now on the cusp of bankruptcy: they thought furious flipping would last forever. It don't. Real estate investors with hold periods of ten - twenty years can be 100% absolutely sure of positive return on investment buying Finger Lake properties correctly. Can anyone say the same about stock market returns? My uncle (dad's brother) bought a few hundred acres of raw land back in the 1950's. My father was going to buy a similar block, for $8,000 cash at the time. His mother talked him out of that... said money in the bank earns interest. Who knows what may happen with land? My uncle has parlayed his investment into $$ millions since. My dad passed away two years ago with less than $8,000 cash in the bank... and the land he passed on buying is worth at least $500,000 if logged and subdivided now. Generational lessons to be learned & relearned...
Texas cities are always on these lists of "most affordable". Any Texans here care to explain why? I've never visited for any length of time, only a few days at a time, but it seems like it would be a nice place to live.
I certainly wouldn't buy a house in any of the hotspots but most likely there are a lot of places that have not reached bubble prices in the less trendy spot... imean if i was living in north dakota and i needed a house.....
There's virtually an infinite supply of land in TX. It's ridiculously hot in the summer. There's nothing scenic about the metro areas. Oh yea, you have to be a Cowboys fan too...any questions? OTOH, those blondes...
We have an enormous amount of buildable land, it is reasonably priced, basically flat and very available...you can build year round.. Texas has a very pro-business attitude, pro-entrepeneur...a lot of the first "daytrading shops" were started down here...Cyber, Momentum, Block, Cornerstone etc etc Houston is 4th largest city with a very large number of public companies HQ here...maybe second only to NY....all energy companies....they are working on Chevron to move its HQ from San Francisco...also HP might move here... A very large amount of outdoor activities available....even some surfing in South Padre... Women: absolutely the best in the world....no contest....think Dallas Cheerleaders all around you....what would be a No 7 here would stop traffic in NY or LA.... Weather: Hot and muggy in Houston....breezes from Gulf keep it OK....rest of state ....just hot...humidity keeps women's skin very soft... They don't call it "God's Country" for nothing.... But, then I am biased.... Steve D
J.P. Morgan said anyone who was a bear on the US would go broke. A few years later the Dow fell 90% in 3 years. What makes you think you're any smarter? A bubble is a bubble, and you are just another guy touting "stocks for the long run" before an epic collapse. The Dow is much higher than in 1929. Does that mean you would have wanted to go full long then at the top? We are traders, not buy and hold muppets.
Cutten, please research historical lake property prices for the past 200 years on Finger Lakes NY locations. Show me one bear market in that rela estate... there were none. Same is true for countless other real estate situations away from the insane bubble areas. A bit of research on your part... all it will take :>)
Lol. You think area X is not susceptible to the laws of supply & demand because of its past history? You are ignoring the first rule of markets, past performance of an asset is not a guide to the future performance. Everyone who is an arrogant clueless f*ck says this kind of crap. Listen my friend, there have been millions of assets throughout financial market history. They all have their bubbles and doldrums eventually. Just like diamonds couldn't go down in 1980, how Japan real estate couldn't go down in 1990, same for US real estate now. Why try to buy the best boat for a storm? Just go to somewhere with quiet water. There are dirt cheap places now, with no speculation, instead negative sentiment. And you are fatuously trying to lecture someone about why your pet corner of the world is a great investment? Sorry, but what about the German equivalent of "Finger Lakes NY"? That market is cheap in a secular sense. American is expensive in a secular sense. Stop being such a doylem and read some history on booms & busts, before you start lecturing others who have already done so and made their living at it.
Austin, Not saying that the research won't support your assertion ... but as you well know "the past is a good predictor of the future until the time that it isn't."