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76562Re: [CostaRicaLiving] Re: current state of the real estate market

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  • Fred Morgan
    Aug 2, 2008
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      What drives up prices is speculation, not home ownership. When someone
      buys a home to live, they are thinking of expenses, and do not think of
      it as a way to make money, but to have a home.

      But, when people are buying properties just to "flip" them, they are
      always seeking to raise the price, of course, to realize a gain. This of
      course artificially increases the cost of homes. When the bubble busts,
      the price goes back down to the price to live, not the price of speculation.

      People have been buying properties, not based on how much they are
      worth, but how much they can sell them for. This of course is not going
      to be possible if you have no money to work with.

      just my dos colones
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