“The time of maximum pessimism is the best time to buy and the time of maximum optimism is the best time to sell.”
– John Templeton –
Generally, I would not even consider selling a home at this time. A home which I sold on a lease plus an option about four years ago, for a five year term, is still producing religiously. I would gladly offer the purchaser a financial incentive to default on our agreements. This was not a ‘Lonnie deal’. This was one of my first three land/home packages I developed which sold within three weeks of completion. Two have been returned to the rightful owner, voluntarily. As a greenhorn in the M.H. business, I followed the model of the perceived experts: ‘Sell the home and keep the land’. In retrospect I realize that the advice was well meant, but also that most was based on recent experiences. Major socio-political and economic trends that were already in motion were not commonly recognized. Of course today, many fear the future with trepidation of possible recessions, if not a depression, and inflation as ramifications. Pessimism and apathy is prevalent and is increasing. I am convinced that I do not want to be lender within these times of major uncertainties. But, I am equally adamant that my continuing efforts will bypass the inevitable wall and payoff on the other side. Historically, in other countries after a currency collapse, those who received the newly printed money first experienced the greatest profits and could take advantage of unheard of opportunities. Tangible, income producing assets, conservatively financed, or perhaps free and clear, have always survived political mischief, in this country. It seems to be a good time to trade any fiat currency or paper assets for tangibles that cannot be printed at whim.