Chucker, I understand your philosophy and agree with it. However; the $20k I have invested in PLNI as of today is part of a $162k gain on an investment property in Virginia. I rent it out and it pays for itself. So I consider it green money and a small portion of my overall investment portfolio.
I own four properties; all with equity in them. Just my own opinion but Florida, Virginia, Vegas and some other areas are not in "bubbles". The demographics are booming and my generation i.e. the baby boomers are on the move and will be for another decade. The imigrants and X generation all need places to live as well. As long as interest rates stay in the single digits and don't hit the physicological double digits i.e. 10% then certain areas will remain strong. They may not see high gains as seen in the last two to four years, but I believe real estate in certain areas will remain a good investment and tax write off. I bought my VA property for $242k in Feb. of 04 and it was just appraised for $404k. My primary residence is in NH and has done about the same. The other two are gaining quickly. If I lose the $20k; no woop, but look at the frickin potential!!!
