I did not say that property NEVER loses half its market value - from one time to another. But true market value is established by trends over time - not high points in a bubble.
This is my quote from the other post . . . - "I always buy "distressed" foreclosed and bank-owned homes. I then fix them up myself and if something goes wrong - I can sell. I've yet to see any drop in half in value during any economic times."
Note I'm talking about buying low to start with and NEVER buying prime properties, especially at high-price market times. And I stand by my statement. None I've bought like this have dropped severly in value at any economic time.
As to your comments about 80s farm loans? It has nothing to do with bank-financed home mortgages.
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Today's Featured Article - What Price Enthusiasm? - by Anthony West. Quite frankly, for some time now restorers like myself have become more and more concerned about the rapid increase in the prices of old farm machines here in England. There is now a growing market for "As found" machines. Which as machines get rarer, has found the birth of a new industry....one of the "procurement agent". These agents appropriate as much old machinery as possible then inflate prices at auctions. So at what price enthiusiasm? We are now seeing poor machines which 3 years ago ma
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