Seriously, we want to buy a few houses in Rockdale, Texas, an area we’ve previously been avoiding because of negative appreciation. It’s a town the same size as Cameron, and it’s also in Milam County.
You’ve probably heard myths like “Real estate always appreciates.” This statement is technically true. But real estate can experience both positive appreciation (going up in value) and negative appreciation (going down in value). After all residences in Petra—not to mention Detroit—aren’t worth what they used to be.
You’ve also heard you should buy land because “they’re not making any more of it”—except in Hawaii and a few other places. But unless you’re a farmer or rancher, you can’t make raw rural land pay for itself. Unless you have a development plan, and we’re not in the development game.