BUY land, buy land, buy land, buy land...
The BEST advice I've ever been given. There is this run down farm house near my parents place on 15 acres with 2 silo's 3 gigantic barns and 1 smaller one $165.000. They were asking $210.000 and have been slowly coming down in price.
I've done a little research, splits are available in 2009.
When I was looking in 1991 in that area, 1.5 acre lots were going for $19,000.
do the math.
For those that can afford to stick it out, there are some terrific deals out there. Another house in Brighton in a nicer (15 yr old) subdivision, was just reduced to $379k Previously it was on the market for over $405k,
It is next door to a good friend of mine's parents house. They are dumping a lot of money into it, trying to sell it.
I'd avoid Condo's like the plague. They are like trailer parks. once you buy one, you're stuck with it. There are SO many out there, selling a used one is very difficult.... don't expect to make a profit, just be lucky to get out of it what you have into it.