Realtor Writes to Local Paper
Go halfway down the page to see the full letter to the editor.
"Always a market
for shore property
I read the Aug. 19 story, "A.C., O.C. real estate overpriced, study says." I agree with some of the evaluations, however, not all. I have been involved in the Ocean City market since 1958 when my uncle purchased his first property, and I have owned in Ocean City for 20 years myself.
We have a very high demand for investment and second-home properties and a very limited supply. We have many investors who are buying more than one home.
My accountant told me that baby boomers' parents, who were savers, will leave $5 trillion of inheritance money to their children, who are investors. Do you think that a good percentage of that money will be going into real estate at the shore?"
More...
"Always a market
for shore property
I read the Aug. 19 story, "A.C., O.C. real estate overpriced, study says." I agree with some of the evaluations, however, not all. I have been involved in the Ocean City market since 1958 when my uncle purchased his first property, and I have owned in Ocean City for 20 years myself.
We have a very high demand for investment and second-home properties and a very limited supply. We have many investors who are buying more than one home.
My accountant told me that baby boomers' parents, who were savers, will leave $5 trillion of inheritance money to their children, who are investors. Do you think that a good percentage of that money will be going into real estate at the shore?"
More...
posted by Little_Silvered at 9:11 PM
1 Comments:
Everybody who doesn't buy now will be priced out forever. Anybody who does buy will be rewarded with a lifetime of riches, as their property will continue its 25% yearly price increase. Renters, and anybody born in a future generation, will not be able to afford a $5,000,000 starter home in 15 years. They will live in tent cities, and hondas. This asset bubble is different than all of the others - it will never slow down, or pop. The gains are permanent.
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