Buy When Blood is Running in the Streets
Virginia Kail a fairly new member at ActiveRain posted this wonderful quote
by Baron Rothschild
"Buy When Blood is Running in The Streets"
It caught my eye ! Made me think!
It certainly does apply to market conditions today!
What do you think??
Buy When Blood is Running in the Streets
This famous quote was attributed to Baron Rothschild in 1871. The quote is often used by Wall street bankers to encourage investors to buy, but the fact is that the famous Rothschild quote was actually used in reference to real estate.
(Photographer: Simon Howden, courtesy of www.freedigitalphotos.net)
Just before the eruption of the 30 years war in France, people were desperate to sell their property, and thus prices plummeted. Clever investors like Rothschild were there to buy it. Rothschild also advised other investors to do the same, and that is how the famous quote came to be. One such investor accused Rothschild of being his enemy for advising him to buy "When the streets of Paris run with blood". Rothschild replied, "My dear friend, if the streets of Paris were not running with blood do you think you would be able to buy at the present prices?"
Rothschild went on to build one of the largest fortunes in history, and his heirs continue to enjoy that wealth to this day.
What does this have to do with the current real estate market? Everything. History repeats itself continually, and a scholar of history can use this knowledge to his or her advantage. Rothschild's advice is as relevant today as it was over 100 years ago.
(Photographer: Ian Kahn, courtesy of www.freedigitalphotos.net)
American streets are bloody right now. Foreclosures abound, and are often selling at a fraction of what they sold for only a few years ago. The current real estate crisis is creating fantastic investment opportunities. For the investor who likes rental property, you can easily double your portfolio of investment property right now.
Of course, these opportunities aren't limited to investors. This is a great time to buy a home to live in also. If you spend some time shopping houses, you are likely to find a great bargain. You'll have the benefit of a much lower mortgage payment, and plenty of equity down the road when the housing market stabilizes.
People who have the courage to buy "When Blood is Running in the Streets" will emerge the winners when the dust settles.
Virginia Kail
Realtor®
Cookeville TN native. A full time, full service agent for the entire Upper Cumberland region of Tennessee.
931-260-4729 cell
American Way Real Estate Co.
931-526-9581 Office phone, 931-528-6569 Office Fax
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