Is a Real Estate Downturn Coming? Message Board

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Pastimes : Is a Real Estate Downturn Coming?

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To: SpongeBrain who started this subject	7/3/2001 9:11:50 AM
From: SpongeBrain	of 91

Vacation homes warning article....FEH, I say,, kiplinger.com feh, the moral to that is "don't buy a $300K vacation home for $500K". Same thing with regular home. If you get a good buy, its a good buy. If you pay through the nose, its a bad buy. (p.s. don't take out 5 mortgages on your first home to pay for it either). The dead give-away here that those people got suckered "In the future, they may make "Hal-A-Sea" their full- time home." First off, no they won't. Secondly, by giving their house a cute name, they justified overpaying by 50K. There is nothing wrong with vacation rental income, as long as you get a good deal. Vacation rentals look to be the same as real rentals. Never break even on a 300K one, but those 100K condo's are probably a good buy.

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