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Strategies & Market Trends : CFZ E-Wiggle Workspace -- Ignore unavailable to you. Want to Upgrade?

To: Galirayo who wrote (6212)	4/14/2008 9:26:10 PM
From: robert b furman	Read Replies (1) \| Respond to of 41419

Many a fortune has been made buying property cheap and renting it at a 10% return annually not to mention depreciation and R.E.tax write offs. If you get a good offer file a 1031 exchange and move on. Few realize how many tax breaks real estate has - thusly my refusal to accept that real estate will underg o any big long term declines - especially with mortgage rates in the 6's. I remember 1981 - a real recesssion where real estate mortgages were 18 %. I sold my home to GM when they transferred me to Houston and lost all of my 20,000 down payment except for 1500. No one bailed me. I had to sell my vette and rent for 18 months just to get up another 20% down and that motgage was at 13.25 percent - I thought I had shopped it hard. This real estate collapse is a lot of hype being accepted in and amongst a lot of political noise / hype. IMHO Suck it up and lets get going. I remember paying 2.35 back in 80 in Chicago and we're moaning about 3.00 gas. We all need to get over it and enjoy the lifestyle the entire world is working their butts off trying to get what we take for granted. THAT'S THE BOTTOMLINE OF OUR BIG PROBLEMS. Bob