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Old 08-12-2022, 09:33 PM   #45
Momofthreema
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Quote:
Originally Posted by John Mercier View Post
I am not sure what it would take for lakefront/lake access property to actually go ''out of demand''. There are only so many lots.
So…you are correct, it doesn’t go out of demand…it becomes less desirable in a market downturn for anyone who looks at it as an investment. Yes…it’s a heck of a lot of fun to have a place on the lake, but there is always a risk when you buy in a “vacation” town. Typically vacation(lake centered, mountain centered, beach centered etc) homes are the most highly volatile type of real estate, so there are always peaks and valleys that are exacerbated in those types of markets. What will be interesting to watch this time around is if the ability to work remotely for many upper management executives makes this downturn less severe.
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