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| Originally Posted by Unregistered One of the funniest and most ignorant posts I have ever read. Real estate is hands down the best investment one can make, especially on the West Coast. Only 2 markets lost money within the last 15 years. They were in the Cleveland and Buffalo area. Seattle is up 28% this year, 30% last year, and averages 20% the last 10 years. Hardly a bad investment. Plus don't forget about the write off. You get to write off all the interest you pay on your mortgage, any improvements you make, and any expenses accrued during those improvements. There has never been a better investment. Just ask Donald Trump. Real Estate on the West Coast has never gone down and has seen jumps as high as 50% some years. My place has increased 50k this past year. It went up 60K the year before. Bottom line is if I want to sell now I will have over 100K in my pocket. What did I do, nothing? Maybe it will slow down but you are guaranteed a solid 10% every year. Do what you do best and go and wash a rig! |
People said the same thing in Japan in 1989. Since then, property prices have fallen for 15 years in a row. A sure sign of a bubble is when somebody says "you are guaranteed a solid 10% every year". When the market turns, you won't be able to get out in time.