[Homestead] The Piggy Bank is empty, Wall Street reacts
tvoivozd at infionline.net
Sun Sep 26 12:40:36 EDT 2004
Gene GeRue wrote:
>> tvoivozhd---what James is saying and I will corroborate, it is lack
>> of personal experience to the contrary, that creates the illusion of
>> economic permanency---that can be shattered at any time, including
>> the illusion of permanancy of real estate. It looks like you are
>> standing on terra firma, but quicksand lurks underneath.
> Beyond knowledge and tools, the major investment for a serious
> homesteader is land. Without it, you are improving the investment of
> someone else. If one chooses to not depend on a pension fund or social
> security, then one must provide for one's own financial security. What
> investment would you suggest that will pay the taxes and utilities,
> pay for dependable transportation, replace worn-out tools, buy seeds,
> and, yes, buy a new computer in one's post-working years?
>> Don't place too much faith in your "ownership" rights to real estate
>> in the United States either---Eminent Domain confiscation is a
>> frequent fact---and not just for verifiable public purpose, more
>> frequently of late it is to benefit politically heavy-hung
>> politician/developers---BANG, your "property rights", your supposedly
>> permanent real estate and your money is gone.
> Eminent domain is used in high-population commercial areas primarily.
> So don't buy property in such places.
tvoivozhd---you don't come to eminent domain, it comes to you---in rural
as well as city areas---clearly visible in property-taking electrical
power lines walking across my neighbors' property, and in the current
fight against gas transmission pipes intended to benefit Atlantic
coastal areas, not Appalachian residents.
>> And the most fearsome threat to ANY illusory ownership today is that
>> your "investment" is represented by 1's and 0's on bank and
>> government computers---how's that for terra firma turning to quicksand?
> That's not quicksand; that's accounting. Those ones and zeros have no
> creation relationship to the value of land. The value of land is in
> its utility and supply and demand. Banks and government computers only
> react to, not create, that value. The final decision on the value of
> real estate is made by the buyer.
> We all make decisions based on our experience. If your real estate
> investment experience has been negative, it is understandable that you
> are afraid of it. Mine has been positive all my life.
> tvoivozhd---exactly---I have had both good experience and bad
> experience---enough of the latter so I am no longer over-confident.
> Let me explain the change (the rapidly-accellerating change) from the
> African Veldt to today. In small-tribe societies, "investment" in
> land was more time-stable. Each tribe of about twenty individuals had
> to defend territory borders against land-hungry invaders or die. A
> simple task without complications'.
Investments, including land-investment are no longer time-stable.
Hidden undercurrents of risk lurk under the surface in an overpopulated
world. You do the best you can to improve the odds and that's all you
can do---plus maintain no illusions---hope your losses occur while you
are young and mentally resilient enough to regain your footing.
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