In response to:

Now May be The Best Opportunity in a Generation to Buy Real Estate

JustMC Wrote: Nov 29, 2012 1:25 AM
My only question: are you a complete fool, or for whom are you shilling? Real estate prices are driven by what people CAN AFFORD TO PAY at the end of the month, not the actual price. $100,000? $500,000? It doesn't matter. What matters is $1000/month versus $2000/month, or whatever. The average person can't even TELL YOU how expensive a piece of property he (thinks he) can afford, he needs someone to tell him what the monthly cost is. When rates are absurdly and artificially low, as today, prices are inflated until they crash. AND the Congress is pondering killing the mortgage deduction. AND the economy is very sick. Real estate is the dumbest thing anyone can buy right now. Hold cash and metals until real estate crashes...
JustMC Wrote: Nov 29, 2012 1:27 AM
again. Once it crashes, buy it up with cash for half to a quarter of today's prices, with HIGH interest rates. Once those rates come down, refinance at lower rates.

But if you buy it at a high price with ultra-low rates, you'll be underwater forever, until you pay it off, get foreclosed on, or throw the keys to the bank.
JustMC Wrote: Nov 29, 2012 1:31 AM
Don't be fooled, thinking that the economy will just "come back." Economies come back when natural corrective forces bring them back. Everything government is doing is POSTPONING those natural corrective forces. The economy won't really come back until government is stopped. And sadly, that will likely only happen with more huge crashes, if at all.

Be mobile, be liquid, be adaptable, be solvent. Real estate is the opposite of all these things.
JustMC Wrote: Nov 29, 2012 1:34 AM
Other than that Ms. Lincoln, great article...

For centuries, land has been the status symbol for wealth and power. In fact, it wasn't that long ago that you couldn't even vote without being a property owner. Of course in those days, just like today, certain locales were far more desirable than others. 

When President Thomas Jefferson dispatched emissaries to France for negotiations in 1801, the resulting Louisiana Purchase treaty handed America 830,000 square miles, essentially doubling the size of the country. The $15 million purchase price netted down to just 3 cents per acre -- a bargain even back then.

France didn't know it at the time, but...

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