Of course we all know that there are some folks that can buy and sell real estate and get rich, but for most of us buying land is a purchase, not an investment.
Of course we all know that there are some folks that can buy and sell real estate and get rich, but for most of us buying land is a purchase, not an investment.
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“Of course we all know that there are some folks that can buy and sell real estate and get rich, but for most of us buying land is a purchase, not an investment. “
Agreed. That said, I know one can make a lot more money buying and selling property in NYC than buying and selling land, but I just have a visceral aversion to spending the kind of money it costs to buy even a small apartment in NYC, as opposed to several 100 acres somewhere that has natural beauty and or that I can grow food on.
I bought my house to provide an emotional, stable investment for my family - a place where they can be comfortable and get away from the world.
My investment is paying off nicely.
It may also add a few dollars to my bottom line when I eventually sell it. But, should it stay flat or lose some, I have still reaped the benefit for which I paid money.
Time to buy more land and not stock. ROBERT J. SHILLER ??? The root of his name is SHILL?
You also have to factor in the fact that when you’re buying a house, you’re not paying rent. Even when considering maintenance, that’s a major value to you. Over the last 50 years, my investments in real estate have done quite well, thank you NYT.
Yet we never really have had zirp, QEs, and insane trillion dollars deficits...
The land to buy is a big farm with an ag exemption. Then, when developers finally reach your area, you strike it rich. Problem is, only the very wealthy can afford to buy a large farm with an ag exemption and they keep it within a small circle of wealthy friends. You don’t see hardly any “little people” managing to effect the above action.
Seems like its the where,when and how for being a favorable or unfavorable purchase. In my case over the years i would have paid out more if renting vs home ownership but the difference isn’t all that great. Still I would rather own than rent all things considered.
Nice article. Of course homes and land are mainly consumptive for most people. And if bitcoin were around since 1800....
And the returns for renting are?
Owning land is the only REAL wealth. This is a stupid article from a totally discredited source.
1) not all 1915 farmland is now farmland. What about, say, 1915 farmland on Long Island that now sits under Zillion Dollar trendy summer homes?
2) I don't buy the accuracy of the underlying premise. I own a small farm that was in the family in 1915. tax records would indicate that it has increased in value approximately 100 fold since then.
I can think of at least one newspaper that’s been a pretty disappointing investment.
White House Cuts Economic Growth Forecasts
http://www.wsj.com/articles/white-house-cuts-economic-growth-forecasts-1468601249
I always find this kind of argument misses a crucial point: that agriculture is not just one-and-done annual crops.
Fruit trees take years to get going. A nut tree can take decades to grow to maturity and then the thing can produce decades (centuries?) after that with little or no input. When it is done producing it is extremely valuable as wood.
This kind of productivity needs time and permanence...like as in your grandfather planted them and your father and you finally reap the rewards.
Why do we think land and homes passed down through the generations in Europe were so valuable? Because it was the cumulative work of generations and it may have insanely valuable mature, productive trees and other things on it that you simply can’t just go out and buy if you wanted to.
“Do you mean to tell me, Katie Scarlett O’Hara, that Tara, that land, doesn’t mean anything to you? Why, land is the only thing in the world worth workin’ for, worth fightin’ for, worth dyin’ for, because it’s the only thing that lasts.”
Happy Monday morning all! Stock indexes closed last week off in lower volume and even metals saw some profit taking (gold, silver @ $1,327.49, $19.86). This morning our futures heat map has virtually all prices across the board falling -0.52% but w/ stocks -0.12%, metals -0.17%, and energies the big hope @ +0.44%.
Today: NAHB Housing Market Index and Net Long-Term TIC Flows.
The buzz:
LONDON The dollar strengthened against the yen on Monday and oil prices rose as investors unwound safety trades after the failed coup in Turkey while SoftBank Group's $32 billion deal to buy British chip designer ARM Holdings lifted European equities.Prices are higher after the release of the stronger than expected retail sales report in conjunction with the bullish influence of higher crude oil prices (full story) Yesterday the markets moved higher based on eco news. Today we have a virtual tsunami of economic reports, what will the markets do? Read on to learn more... (full story)Stocks in Asia were mixed on Monday, showing little reaction to a failed coup in Turkey, although investors responded to data out of China suggesting that the country's housing market was expanding at less frenetic pace.
When you propagate section 8, welfare and unchecked immigration, home values are bound to suffer.
Im not exactly sure of this guys logic. My family bought farm land in 1974 for $500.00 an acre. today it is worth $9000.00 and acre plus we get paid annual income every year for the last 42 years. And when I pass on it will be passed down to my kids not like a company pension that disappears.
I have made a good deal of money on every property I ever bought except for the house I now own. And actually the value has now crept back up to 2006 levels. It likely a bubble so we are going to sell soon. Knowing when to sell is the trick.