<b>cutten</b>, if your great-grand relatives ever had any lakefront property on Canandaigua (or Seneca, or Cayuga, etc) Lake inside the past 200 years, your inheritence would not allow you to trade financial markets. You couldn't afford to dabble with stocks, had your family tree stretched back a ways there.
Likewise, every generation since has balked at buying lakefront properties here... but those who did have always gained methodical wealth.
I'm not talking about the morons stuck with four mortgages in Realty Bubble USA now on the cusp of bankruptcy: they thought furious flipping would last forever. It don't.
Real estate investors with hold periods of ten - twenty years can be 100% absolutely sure of positive return on investment buying Finger Lake properties correctly. Can anyone say the same about stock market returns?
My uncle (dad's brother) bought a few hundred acres of raw land back in the 1950's. My father was going to buy a similar block, for $8,000 cash at the time. His mother talked him out of that... said money in the bank earns interest. Who knows what may happen with land?
My uncle has parlayed his investment into $$ millions since. My dad passed away two years ago with less than $8,000 cash in the bank... and the land he passed on buying is worth at least $500,000 if logged and subdivided now.
Generational lessons to be learned & relearned...
Likewise, every generation since has balked at buying lakefront properties here... but those who did have always gained methodical wealth.
I'm not talking about the morons stuck with four mortgages in Realty Bubble USA now on the cusp of bankruptcy: they thought furious flipping would last forever. It don't.
Real estate investors with hold periods of ten - twenty years can be 100% absolutely sure of positive return on investment buying Finger Lake properties correctly. Can anyone say the same about stock market returns?
My uncle (dad's brother) bought a few hundred acres of raw land back in the 1950's. My father was going to buy a similar block, for $8,000 cash at the time. His mother talked him out of that... said money in the bank earns interest. Who knows what may happen with land?
My uncle has parlayed his investment into $$ millions since. My dad passed away two years ago with less than $8,000 cash in the bank... and the land he passed on buying is worth at least $500,000 if logged and subdivided now.
Generational lessons to be learned & relearned...
