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Real Estate
Reply to "why new builds in mclean lose values over time?"
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[quote=Anonymous]Luxury home is not an investment - this is why no one holds (as opposed to build and sell) luxury homes long term as an investment property. A luxury home is a consumption item that happens to hold value fairly well, but it does not bring in rent nor appreciation that adequately off-sets the associated costs. Aside from the transaction costs, think of all the property tax that's been paid on these properties during this time. A $2-3M home is something you buy because you want to enjoy it and can afford it.[/quote]
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