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To: Moominoid who wrote (12462)	12/14/2006 2:11:23 PM
From: Ilaine	Read Replies (1) \| Respond to of 217686

True, but it's not possible to put all your eggs in land. You need to be able to pay the property tax, and have something to live on. As you know, I am not very good at math, but even I can see that if your great-grandfather bought land near a growing town 100 years ago for less than $1 an acre, and your family held on to it, and the town grew big enough that your land is now zoned commercial, that's a pretty good rate of return. Much better than gold over the same time period. Now, here's the question, do you sell it and buy gold, or do you develop it, and lease the commercial buildings? Seems like a no-brainer to me. The only trick is to keep from getting over-extended. Let the other guy borrow the money to build the buildings, and you keep hold of the land.

To: Moominoid who wrote (12462)	12/14/2006 2:18:43 PM
From: Ilaine	Respond to of 217686

BTW, in the last episode of "The Wire" (on HBO) one of the characters claimed there were 100K vacant row houses in Baltimore. That's probably more or less true about every gritty urban area on the Eastern Seaboard. I'm not talking about buying those kind of headaches, but there are people who made a lot of money buying abandoned property near Baltimore Harbor, now a yuppie enclave. One of the families I am talking about purchased hundreds of acres of farm land in Loudoun County, VA adjacent to the Potomac a few decades ago, now one of the fastest growing areas in one of the richest places in the country. It just takes a little vision.