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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: JDN who wrote (102030)	2/24/2005 11:41:48 AM
From: carranza2	Respond to of 793745

Someone very wise told me that next to location, location, and location, real estate should be bought on the basis of the beauty of the surrounding countryside because the world is getting uglier. The beautiful placess will have the most appreciation. I suppose the advise is a variant of location, location, location.

To: JDN who wrote (102030)	2/24/2005 2:56:01 PM
From: John Carragher	Read Replies (1) \| Respond to of 793745

I remember back in 1978 we were building distributors . one guy used his house to put him in business. his business was growing rapidly so i had him get it reappraised every six months so i could lift his credit line. I think we went from $80,000 to $500,000 in the space of twenty months. he was on a waterway in ft. lauderdale. Local bank which held the mortgage certified that appraisal.. we held second dips which was really nothing. I assume he is now retired. realestate i bought in ca. at peak interest rates 18% if you could get a loan.. sold six months later . lost $40,000. no buyers. no money around to buy a house. We had over forty employees who got stuck on condo on east coast , west coast who bought in at peak and then market dried up. Many lost a lot of money.. I was protected by company for most of my losses.

To: JDN who wrote (102030)	2/24/2005 4:36:10 PM
From: KLP	Respond to of 793745

Many of the younger people are making multiples of what we made starting out our careers. Is the multiplier from 1960 to present about 6 times cost of living? An engineering graduate of a top US engineering school started out in 1960 making between $7,000 to $8,000 depending where in the country he/she went to work. That's a YEAR not a Month. Using a 6 times multiplier, you will see that the young folks are making a good deal more to start out with. Frankly, I cant even undertand how young couples starting off today can even afford to get into the game. jdn