Posted by jose bagge on March 01, 2008 at 05:00:06 from (12.161.55.2):
In Reply to: Real estate. posted by Spook on February 29, 2008 at 17:12:40:
We're seeing this in No Va buy the boatloads... and I'm hiring real estate brokers as parts salesmen at an amazing rate! I know of two 1.2 M homes purchased a year ago that sold for less than $750K (and were on the market 90 days or more at those prices). Sad to say, they were $750K homes a year ago as well- but everyone got fooled! The money is in the dirt, and it's in commercial! I just closed an incredibly profitable store because the landlord raised my rent from 20k/month to 60k! And we had been there 20 years as the anchor tenant!
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Today's Featured Article - A Cautionary Tale - by Ian Minshull. In the early 1950s my father bought an Allis Chalmers B and I used it for all the row crop work with the mangolds and potatoes, rolling and the haymaking on our farm. The farm and the Allis were sold and I have spent a lifetime working on farms throughout the country. I promised myself that one day I would own an Allis. That time event
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