Quote:
Originally Posted by Biggd
waterfront communities are more abundant and don't require the same level of wealth. They also don't appreciate at the same pace as waterfront property.
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This is one of the ironies of the whole thing. An "expensive" property that appreciates fast is less expensive than a lower priced property that appreciates slow. We bought our place before the recent run up, thinking it was our once in a lifetime splurge. WRONG! We've made a large chunk of change. We don't expect to ever cash out, and we hope future generations will hang onto it. But there is something funny about a system where toys/luxuries are profitable for their owners