[quote=flyer]Actually, dz, we, and many people we know have, for many years, had both investment and vacation properties (most purchased during the last downturn at “bargain” prices) in several locations–all above board–some purchased all cash, others, not, so you’d really have to look at this on a case by case basis.[/quote]
You see, dz, rich people don’t get hurt in a recession or pull back. These just buy a lot of assets that are unobtainable for people that still count on a paycheck. And they never need to sell, because they can take advantage of every single tax law governing inheritance, estates, and living trusts, life insurance, etc to avoid estate taxes…
Rich people also don’t concentrate all their money in the stock market. In fact, because they are rich, there’s no reason to take higher risk stock investments to go for double digit growth yoy. They can camp out in a 4% bond or fixed income and still live well if they have 8 or 9 figure net worth.
