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Originally Posted by Rick Latona
Lars,
I totally agree with you and I've been preaching this for almost a year now. Georgia property has increased less than most states in the nation. I feel ok about my house because I bought the cheapest one in the very best neighborhood. Also, I don't have a mortgage at all. ;) That said, I'd be nervous as hell buying a home in New York, Florida, California, Arizona, Hawaii or Nevada right now. If you are buying a home in one of those states and are doing an interest only mortgage, you can't say we didn't tell you so.
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Well said Rich.
I was looking at Georgia and found CHEAP land BUT if I were a renter ( which I will NOT do ) I would never buy in Georgia. Far too many depressed income areas.
Renting is a nightmare nowadays UNLESS you have specified clientele ( aka college students/alum/faculty/employees ).
Reason being is people get irresponsible, stupid and you end up with no life of your own.
I buy outright. No mortgages etc. I buy the land, build on the land, own my shit and fuck mankind.
If I buy a property it's because I'm going to hook that fucker up so cool I will have upscale buyers lined up as far back to the borders of the Klingon Empire.