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Old 08-26-2019, 02:17 PM   #43
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Originally Posted by FlyingScot View Post
Hmmm...completely accurate yet completely misleading all at once. Your lake house or land is not an investment, it is a luxury good. Taxes on that luxury good are not a penalty or investment expense, they are the cost of performing services that benefit you and other residents. That some people make money on lake houses (using whatever definition you'd like) is terrific, but not the definition of success here.

Same can and should be said about every home you purchase. Equity is not guaranteed, as many realized in 2008

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