Quote:
Originally Posted by 1952boyntoncollector
right but FEMA always bails them out..
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Love the analogy Jake.
When the housing market crash hit CA, everything got hit except homes on the beach.
I can't afford Malibu, let alone the west side of the PCH there.
So, we buy what we can afford. Certainly not as flashy or valuable as Malibu ( 52' Mantle ), but we love what we have. Appreciation may not be as high or quick, and demand not as great if we sell. As a result, we may be more affected if there is a collapse in the market.
And if i'm buying beachfront, I'm not concerned with storm damage or water. That's a risk I take because the upside and demand outweighs any cons.