Mom: You know that house that we own and rent in New Hampshire?
K: The one you were planning on selling to pay for my college and never did? The one I keep telling you to sell since housing prices are probably at their peak in the area?
Mom: Yeah, well I read in the paper that housing prices may be at their peak in the area so I think we're going to sell it.
K: Well I'm glad you finally made a decision.
Mom: Not making a decision is still making a decision.
K: ?
K: Well I think it's a very good idea to sell since you may have been spending more money on maintenance than you've actually made in renting it. Plus, it is probably a good time to invest your money in some other medium than the real estate market right now.
Mom: Yes, it is a very good idea to sell. And we're not even going to have to pay capital gains tax because we'll be buying a similar rental property with the money from the sale.
K: I need to go now...
Thursday, September 06, 2007
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1 comment:
I'm laughing because I've had 8000 permutations of that very same conversation.
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