ajtj99's Market Pulse

[jdaasoc]

I only got one story RE reinflating assets

My father was an accountant who started investing before 1929 and died in 1997 and was extremely savvy when it came to economy and investing. Otherwise he did not have much to say.
In the midst of RTC housing collapse of late 80's, we had just left a family reunion in Brooklyn and he stated he would take us one tour of all the houses he lived in Brooklyn growing up.
It seems like a odd journey but my brother and sister were in back seat and we were not in a position to object.

His tour started on the Brooklyn waterfront across from lower Manhattan and I don't remember all the houses and apartment buildings he pointed out but one statement has stayed vividly in my memory as dad intended it to be.

As he pointed across the street to 3 story apartment building, "this is the building my father put a offer in on in 1931 but the bank wouldn't lower the price and he didn't get to buy it until 1941".

We are just waiting for housing to bottom and stock market real estate prices will appreciate for a sustained period of time at a rate beyond any mild inflation we can expect.

Only question is when