08-16-2006, 02:02 PM
The finer points of what comprises speculation vs. investment are not as important as the results that come about, regardless of what one calls it. I will admit that the difference may be hard to define in any given case, but even some real estate professionals on this forum have referred to a lot of the recent construction in Puna as "spec" houses.
John, can you deny that a lot of life-long BI residents have been priced out of the market? Do you really think that rents won't go up as a result of price and real estate tax escalation? I am sorry if I sound shrill about this, but it is a very real problem. Young families, even with two incomes, find it much harder to afford a home of their own now than just three years ago. I would like to see some statistics on BI rents, which I suspect have increased markedly. And no, I am not a hard left-winger. I worked in the corporate world for decades and ran a 401k investment plan for the last 10 years of that span. I just hate to see hard-working honest people priced out of their dream.
And yes, I do see a home as the biggest investment that most people will make in their lives. That is just a fact, and there are times when it is appropriate to tap into that asset. People should just not get to thinking they can finance continuous consumer spending that way, or they may get into trouble.
Done ranting for now. Cheers,
Jerry
Edited by - JerryCarr on 08/16/2006 18:06:57
John, can you deny that a lot of life-long BI residents have been priced out of the market? Do you really think that rents won't go up as a result of price and real estate tax escalation? I am sorry if I sound shrill about this, but it is a very real problem. Young families, even with two incomes, find it much harder to afford a home of their own now than just three years ago. I would like to see some statistics on BI rents, which I suspect have increased markedly. And no, I am not a hard left-winger. I worked in the corporate world for decades and ran a 401k investment plan for the last 10 years of that span. I just hate to see hard-working honest people priced out of their dream.
And yes, I do see a home as the biggest investment that most people will make in their lives. That is just a fact, and there are times when it is appropriate to tap into that asset. People should just not get to thinking they can finance continuous consumer spending that way, or they may get into trouble.
Done ranting for now. Cheers,
Jerry
Edited by - JerryCarr on 08/16/2006 18:06:57