Think of Real Estate as your “Last Resort”

If you want to make money in real estate over the next decade, plan on buying a vacation or resort home. Currently, 6 percent of all homes sold in the U.S. are vacation homes. While the percentage is small, it is growing faster than the overall market for residential real estate. In 2003, 445,000 vacation homes were sold, the highest number ever. This was a 24 percent increase from 2001, the National Association of Realtors reported.

While the Association’s chief economist, David Lereah, predicted that the total residential ma.....

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