Mario Goveia wrote:
> If real estate prices are collapsing, just as gold
> prices have done during certain periods in history, a
> shrewd investor with cash or credit buys real estate
> at the lowest price he or she can, or at auction, or
> at foreclosure, and then rents the property, accesses
> the numerous tax benefits from doing so, and holds the
> asset till the prices rebound as they always have in
> the long run.
The real patriot is the person who is proud to pay taxes.
Mario,
Good luck with your plan, eh!
Some pointers:
1) Only the inexperienced buy when prices are collapsing. It is just like
trying to catch a falling knife. More often than not, you will get cut. The
more experienced will let the knife fall to the floor and then safely pick it
up when it lies there.
2) It seems such a pity that you need Uncle Sam's tax money to make your plan
work. With US elections around the corner, and the potential for a balanced
budget at last, the tax dependency of your plan may not last for too long.
3) I hope you are around when real estate in the US rust belt stops falling.
You know as well as I do that the US rust belt will have a reversal of fortune
only when manufacturing returns to the region. Your biggest hope is that one of
the big three US car manufacturers i.e. Tonka,
Match-Box or Hot-Wheels will consider manufacturing in the rust belt. The
problem with this scenario is that Washington has to provide these
manufacturers tax incentives before they even consider moving from China. And
if Washington does provide the big three with tax incentives, it will be at the
cost of removing tax programs from the little guy.
Mervyn3.0
The real patriot is the person who is proud to pay taxes.
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