haha
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
kcowan said:(One reason that the GRM is 57 is that the land we are on is owned by natives under a 99-year lease. So that part of the RE inflation is mitigated by the land lease. I would be very nervous to be renting here in year 99. But I think we are pretty safe!)
I don't understand why the financing of the place should affect rents. It should affect return to ownership, but what a renter wants is space and amenities, and as you say, as long you don't plan to be there beyond the lease, why would it matter? In any case, residential leases are relatively short term, so your occupancy is subject to periodic renegotiation.
Some years ago I bought waterfront land with fee title. However, it was on the res and thus subject to tribal law and administration. I bought it cheap, and got out of it within a few years as the market developed. I felt that this uncertainty was best not dealt with once the property had attained value close to levels outside of an Indian Nation.
Hot markets make for undemanding buyers, but later on everyone gets smart again.
Ha