08-17-2006, 03:41 AM
From my vantage point, a 50% decline in R.E. value would be a wonderful development. One, because I don't plan on selling my home anytime soon, if ever. And two, because it would give me much more buying power for my next property...which I would also keep for a very long time.
Investors are not inherently evil. The litmus test for a legitimate investor IMHO, is whether you strike a balance between the the monetary gains you earn, and how much you contribute back to the community (through tax revenue, jobs created, volunteer work, etc).
We can complain about what the speculators have done to the economically less fortunate. But there's not much we can do about it considering we're a "free market". IMHO our energy would be much better spent looking for innovative solutions within areas we can control. For me personally, it would be an honor and privilege to have the chance to help local folks improve their quality of life through education, training, etc. Beyond volunteer work, there are an infinite number of creative ways to develop the local economy, which means more jobs.
I'm not trying to downplay the reality of the housing market or the suffering of many local families. Just would prefer to focus my energies where we've got a fighting chance of making a contribution.
I am not a real estate expert so take this for what it's worth: I don't think the market's gonna go down 50%. But I'm 99% sure it's going up over the long haul. (remaining 1% is the "Pele factor"
If I'm wrong and values drop 50%, I'll gladly buy a round of cocktails for everyone at our next gathering 
Aloha!
Tim
"The place to improve the world is first in one's own heart and head and hands, and then work outward from there." Robert Pirsig
Investors are not inherently evil. The litmus test for a legitimate investor IMHO, is whether you strike a balance between the the monetary gains you earn, and how much you contribute back to the community (through tax revenue, jobs created, volunteer work, etc).
We can complain about what the speculators have done to the economically less fortunate. But there's not much we can do about it considering we're a "free market". IMHO our energy would be much better spent looking for innovative solutions within areas we can control. For me personally, it would be an honor and privilege to have the chance to help local folks improve their quality of life through education, training, etc. Beyond volunteer work, there are an infinite number of creative ways to develop the local economy, which means more jobs.
I'm not trying to downplay the reality of the housing market or the suffering of many local families. Just would prefer to focus my energies where we've got a fighting chance of making a contribution.
I am not a real estate expert so take this for what it's worth: I don't think the market's gonna go down 50%. But I'm 99% sure it's going up over the long haul. (remaining 1% is the "Pele factor"
If I'm wrong and values drop 50%, I'll gladly buy a round of cocktails for everyone at our next gathering Aloha!
Tim
"The place to improve the world is first in one's own heart and head and hands, and then work outward from there." Robert Pirsig
Tim
A superior man is modest in his speech, but exceeds in his actions--Confucius
A superior man is modest in his speech, but exceeds in his actions--Confucius