Thursday, July 07, 2005

Too Much Speculation

Here is a decent writeup.

"Since rental yields are so low, those buying properties as investments are by definition speculating," writes Peter Schiff, president of Euro Pacific Capital. Buyers of vacation homes "are also speculating, as inherent in the decision to buy such properties is the expectation of price appreciation. Absent such a forecast, it is far more economical to vacation in hotels."


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