January 23, 2004

Let's Buy Two...

Other than sucking risky first time buyers at no interest down to buy a first home, there's always existing home buyers buying a second home as this article shows. Two chickens in every pot...two cars in every three car garage, and two homes for every family. Why limit yourself to one consumption-driven lifestyle when you can have two? After all...interest rates are low.... BEND, Ore. (CNN/Money) – Are two houses better than one? A growing number of second-home owners seems to think so. "The hottest segment of an already hot real estate market is bubbling up in coastal towns, mountain towns and other vacation spots. "Things have really picked up in 2004," said Lynda Traverso, a real estate agent on Sanibel Island, near Fort Myers, Fla. where home prices have risen noticeably over the past couple of years. Most buyers, she said, are from the Midwest or the East Coast. "I see a lot of people in their 40s and 50s who are taking money they would have invested in the stock market and buying vacation homes." Property values on the Jersey Shore, meanwhile, have been bid up by buyers in New York, Philadelphia and Washington D.C.


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