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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Kevyn Collins-Thompson who wrote (27467)	2/25/2005 11:36:22 AM
From: BWAC	Read Replies (1) \| Respond to of 306849

<In the places that most retirees would want to go - urban and vacation locations - I just don't think enough people could afford to rent something house-sized for a few months at a time. > Not so quick. Lets say Myrtle Beach, SC for example. You like golf and ocean front. You could buy a fantastic condo for $350,000. Have a property tax bill, have an condo association bill, have some special assessments for maintenance, have a little hurricane insurance bill, etc. Or you could rent the same from about November 1 to March 31 for about $12,000 for the 5 month period. Out 350k cash plus who knows how much in yearly "ownership" expenses? Or keep cash 350k and put the meager 3.25% interest/CD/dividend/bond income toward a 5 month vacation home. With no worries, except the condo goes to $600k before the hurricane washes it away.