As a keen student of history....Although far from an History major. I thought I would post the name an interesting Book, to do with property.
Charles Mackay's 1840 classic, Extraordinary Popular Delusions and the Madness of Crowds.
I definitely believe the cycle is unpredictable. I remember the huge sell-off of land on the gold Coast in the 80s by the Daikyo Corporation, during a R/E slump. They had bought during the previous boom, and ended up losing millions.
For my own property investments (Residential Rental Property) I have always bought when prices are down, and sold when prices are high. I have however been prepared to hold them for between seven (7) and twenty five (25) or more years. I have always found R/E to be a good hedge against inflation.
Regards....Marum.
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Glen Diemar, MD
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