The quest for the ‘ Triple Crown ‘ is over.
Big Brown comes in last in Belmont and it's bid for history.
whether your a horse racing fan or not, almost everyone likes the pomp and circumstance, the fan fare surrounding the Kentucky Derby, Preakness and today's Belmont stakes.
Horses with names like, Secretariat, Seattle Slew, and Barbaro are in the media and horses are stars in pop culture.
And even if you are not a gambler, almost everyone has a favorite 3-year old.
As you know, I relate everything to real estate (others feel like this about Golf) and there is something to learn from the Kentucky Derby and Belmont stakes.
The horse race is a sprint. Betting on a sprint is a gamble; anything can happen. However, real estate is not a sprint. Home buying never has been a race; if it is one, its a marathon.
Those who gambled, and invested , for short-term appreciation recently where on the wrong side of what was a bet (even educated) that the market would keep flying. We know the end of that story.
The last 100 years (marathon) of buying homes and investing in real estate has proven to be anything but a gamble.
Home buying, is proven to be one of the most a valuable way for families to save, earn and invest with , overall, wild successful results. The American dream has created so much wealth for so many Americans because we are taught by our parents to put away money every month, consistently over a long period of time (in 30-year and 15-year fixed mortgages.)
The old saying, those who don't learn from their past, are doomed to repeat it, is all too appropriate today.
Buying Real estate, home ownership, should be thought of as a marathon; not a sprint, not a horse race, it is not a bet or gamble.
Don't bet on your future.
Invest wisely and remember that home ownership is arguably the best way to create long-term value with the short-term benefit of use.
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Copyright © James Wexler, *"What gambling on horse racing can telll us about Real Estate Investing*
Good analogy, James!
Gambling is an investment program for folks who are bad at math.
This is all too true. I love your analogies and a great tie in to today's Belmont race. Thank you!
Too many poeple are buying their primary residence as an investment. It can be an investment (Long-Term) However, that is the last reason you should buy a home.
I've never understood horse racing, dog racing, boxing, and the like. They just don't make sense to me in a civilized society.