Quote:
Originally Posted by
Piobaire 
Ouch, really? The saddest group of people I know personally are the ones that are "rich" on paper with commercial real estate. In fact, they keep telling me the worse is yet to come for that segment.
For the most part I don't use financing given that I'm at retirement age. I'm looking for income over appreciation. I'm interested in paying the bills and having a little left over for enjoyment.
The two properties I've recently purchased are in cities that are already hard hit. That being so ... my purchases were made at a deep discount to their high ... with already significantly reduced rents. Even were the rents to fall another 50% ... the return is better than most bonds ... excluding junk.
Of course, who knows how hard this "resession" is going to hit. And I still do have some cash sitting on the sideline for future purchases ... for potentially harder times to come.