Subsidized Housing for Millionaires......
http://www.thomasjstanley.com/blog-articles/242/Subsidized_Housing_for_Millionaires_html

__________________
'06 E320 CDI
'17 Corvette Stingray Vert

You may ask,"who has enough cash to pay for a home in today's economic climate?" Certainly the millionaire next door types do. Often, in down times, they inventory homes of this type, reselling them when the market improves. Some lease these homes;....."

Exactly!

__________________
'06 E320 CDI
'17 Corvette Stingray Vert

We paid cash for our home last month. We plan on picking up a few more in this area, due to the very low prices, and leasing them out 'til the market bounces up again.

I'm NOT a millionaire...just someone savy to wise investments.

__________________
1987 560SL
85,000 miles

Or a parasite.

- Peter.

__________________
2021 Chevrolet Spark
Formerly...
2000 GMC Sonoma
1981 240D 4spd stick. 347000 miles. Deceased Feb 14 2021
2002 Kia Rio. Worst crap on four wheels
1981 240D 4spd stick. 389000 miles.
1984 123 200
1979 116 280S
1972 Cadillac Sedan DeVille
1971 108 280S

What?

Everything is cash these days because the ROI on other investments sucks and banks are not really lending. Cash sales are not always cash sales for the buyer but show up as such, a lot of them are private money.

__________________
2016 Corvette Stingray 2LT
1969 280SE
2023 Ram 1500
2007 Tiara 3200

People who buy multiple homes as "investments" are parasites in my opinion.

- Peter.

__________________
2021 Chevrolet Spark
Formerly...
2000 GMC Sonoma
1981 240D 4spd stick. 347000 miles. Deceased Feb 14 2021
2002 Kia Rio. Worst crap on four wheels
1981 240D 4spd stick. 389000 miles.
1984 123 200
1979 116 280S
1972 Cadillac Sedan DeVille
1971 108 280S

How so? What's wrong with investing in real estate its quite profitable if done right.

__________________
2016 Corvette Stingray 2LT
1969 280SE
2023 Ram 1500
2007 Tiara 3200

You would rather see them abandoned and boarded up?

__________________
Eugene

10 E63 AMG
93 300te 4matic
07 BMW X3
14 Ford F-150 Fx2

Someone wanted to sell a house and he bought it, sounds like a win-win to me.

Or they've never heard of the case-schiller index. Everyplace but Detroit is at or above the long-run average.

Shame on us for owning 2 homes both that are paid off.......

__________________
2015 ML350 4Matic. Wifes DD
2015 GLK350 4Matic. My winter DD
2012 E350 4Matic. Road Trip car
2009 CLK350 Coupe Designo.Kleemann Tune For nice days/DD
2006 CL600. V12.Eurocharged Tune. Enough said
2005 CLK55 AMG Coupe.Kleemann Tune. For the sound and style
2004 CLK320 Cabriolet. 2005+ Interior swap. For the sunny Florida days & beach days

The mayor and city counsel of Detroit call them "Angels."

__________________
1983 300SD "Guderian"
1987 MR2
2015 Camry
2015 Chevy Spark
2006 Hyundai Tucson

If you are so certain about the pricing of these homes and opportunity at hand, why would you not take part in the profits to be made? After all, you bought into the market albeit at much higher prices, with an expectation of prices going even higher at the time you bought, did you not?

If something at one time sold for 2X what it is worth, and now is selling for 20% of what it's worth, what is to stop it from selling for 10X what it is worth at some future time in the near future?

IIRC, you and your wife have government sponsored jobs, which would indicate a high degree of income stability, especially given a "dual-income" household. In fact it seems a great opportunity to make a lot of money very easily, very quickly, for those with that kind of job-stability right out their own front door.

I have found during my investing and work life of the past 40 years that hysteria reigns the day paralyzing most people's ability to make sound financial decisions. Most have no idea what is happening around them - even while it is happening. They are so narrow-scoped on what they think they see and what they are mentally fixated on - they miss opportunities that are begging to be acted upon. I don't blame people for their state's of confusion. You've got a smokin' hot stock market up over 30% in the past (5) quarters, you've got high unemployment, you've got high gasoline costs, you've got continued diminishing household income for the middle class, you've got three wars the government is involved with around the globe, you've got the looming threat of the government taking over healthcare, you've got inflation coupled with deflation - how do you like that? - with Fed. Chairman Bernanke afraid of both, with no idea how to deal with either. You've got record low interest rates, with housing prices continuing to drop nationally.

__________________
'06 E320 CDI
'17 Corvette Stingray Vert

Are these people any different than the people that bought Ford at $1.99 a share? I have an aunt and uncle that have multiple rental properties that are now paying for a very nice retirement. Please explain how someone who is willing to a risk on an investment, whether it be RE, Stock, or hog bellies are being parasitic??

__________________
86 300SDL. 250,xxx on #14 Head. One eye always on temp gauge.. Cruising towards 300K

I'm sorry that you're all butt-hurt over your own financial mistakes, but have no fear...Obama will make everyone else pay for your mistakes, right?

I paid CASH for the house, and am living in it currently. We will be paying CASH for the other properties and investing sweat into the places, as well as MORE cash. It's something for the wife to do, since she just recently retired...and the tender age of 48. She'll have something to do, and we'll make money off of it.

__________________
1987 560SL
85,000 miles