I love people who call themselves investors. They walk in, they ask all questions about buying in Daytona Beach Area, and then they say that they are not sure in the economy. They have read this, and listened to that, and thought about something similar happening in Rome of Caesar era...
I guess they want to buy the economy...
You can show them that on e can’t build for what you can buy it now. They look at it with blinking eyes, and then they would say that they are afraid of a bubble. They sort of understand that if you can’t build for what you can buy, you can’t lose, unless there will be no construction in the nation… ever. Because if there is construction, it is going to cost more to build and, subsequently, more to buy…
They nod and keep being afraid of a bubble. Why not being afraid of a rainbow, that can collapse one day and fall right on their investment property?
Did you ever notice that it is not really difficult to make people believe that they may win the Florida lotto? They are deserving, they are nice, why others but not them kinda thing…And the chances to win the jackpot (6 correct numbers) are one in 22,957,480.
People buy tickets and play.
Same people, when they are wannabe investors, would frown at you if you say that they are buying for only 50 cents on the dollar compared what the Seller paid BEFORE the market went bananas. So, if the price goes back to where it was before, they will double their investment. Not good?
Oh, it will never go back to where it was. We heard that before… But even if it will not go there, it is a pendulum and it is going all the way from one side all the way to the other. It has to do, and if it only gives you $0.25 cents on a dollar, not good enough?
Hey, if I give to you and pay you $1,000 so that you buy, would you? Not good enough?
What is?
* Image is courtesy of Pink Sherbet Photography via Flickr.com
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