Levittown??
December 17th, 2007Housing as a commodity???I doubt the concept of fix and flip and investment Real Estate was foremost in the minds of those WWII veterans when they were looking at homes in Levittown PA. They were looking for shelter, roof, warm in the winter and cool in the summer place to raise a family and enjoy life.Using homes and housing as shelter prevailed for a long time. Recently the concept of making money with Real Estate has become a buzz word along with a way of life for some people. Not to say that in the past there have been wise investors that viewed Real Estate as a highway to wealth. Consider the golf course and subdivision developer; they have seen the lighted pathway to riches. The average Joe has recently joined the crowd in trying to make Real Estate a second or in some circumstances a primary vocation. Well does it work? In most cases it does not and has this movement led to or contributed the current situation in the housing market? For the novice fix and flipper or even the developer, as with most vocations hard work, planning and focus are required to be successful, oh yes, don’t forget money.What I wanted to get across is that housing is just that, a home for you and your family and was primarily developed to keep you warm in the winter, cool in the summer and have a place to invite friends and family over for Sunday dinner. Yes you can make money in Real Estate and you can also lose money. For the most part most folks break even after some good investments and then some bad ones. So when your friend of neighbor brags that he made a killing on selling his home, take it with a grain of salt, he may very well lost his shirt on his last deal.