An End of an era. We buried my grandmother on Friday. It was a celebration of life.
She was 99 and a half. Born in August of 1909. A long life that had seen horses replaced by cars and trains replaced by planes. Astronomy became a reality when man landed on the moon. Computers replaced workers. But real estate was constant. She came from the Will Rogers era under the notion that one "should put their money in land..."cause they ain't makin' it no more."
Real property is under assault as an investment in 2009. Why? because of fear itself. No one remembers who Will Rogers was and rumors of the death of real property are greatly exaggerated. I'll tell you...I'd rather my money in good real estate than a stock that has the potential to vaporize.
In good times and bad, real estate will never have a value of zero. ENRON has a value of zero and many invested in it. Madoff has a value of zero, and more invested in that. Real property always has value.
So when I hear of paper losses similar to: "I lost 30% of my house's value" or " I think my money is safe in treasury notes" ..I feel my grandmother's generation screaming Will Rogers' mantra..."hey you knuckleheads...invest in real estate....it's for real."
No, I'm not a speculator. But the oil guys are...and those that went long recently are now pretty short on funds. My point is, that there is no pie in the sky. If you were seeing your house rise in value by double digits (on paper) and watched it drop by double digits (on paper), you are probably still ahead if you invested years ago. And if you are recent buyer...Hang in there. They ain't makin' it no more.
Yeah, we over built. But then, we over populated too. So unless the plague comes back, real estate is a good long position. And as long as we are talking about real estate in the present, Never before in my days have I seen a better time to invest.
Remember Y2k, yeah that was supposedly the end. Those that invested in real property back then, are feeling better than than ENRON guys or the .com guys. This isn't complicated. Do your homework with the aid of an experienced Real estate Broker and you will find your biggest investment is a bargain right now. Real estate is like Baseball, not the stock market, because there's no crying in real estate. This also means no crying from Real Estate brokers too. So everybody quit your crying and let's get on with it.
www.HomesByCross.com Your tool box for all your Charlotte area real estate needs.
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