{"id":57806,"date":"2014-05-23T09:00:48","date_gmt":"2014-05-23T15:00:48","guid":{"rendered":"https:\/\/www.biggerpockets.com\/renewsblog\/?p=57806"},"modified":"2024-01-27T08:49:08","modified_gmt":"2024-01-27T15:49:08","slug":"2014-05-23-10-real-estate-markets-buy-and-hold-made-sense","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/2014-05-23-10-real-estate-markets-buy-and-hold-made-sense","title":{"rendered":"10 Real Estate Markets Where The “Buy and Hold” Strategy Actually Made Sense"},"content":{"rendered":"

\"\"Have you ever heard of John Jacob Astor<\/a>?<\/p>\n

A couple\u00a0hundred years ago, this guy\u00a0was kind of a big deal.<\/em><\/p>\n

Astor was one of the earliest (and most successful) businessmen in America. He was a merchant, fur trader and real estate investor who became the fir<\/span>st multi-millionaire in the United States.\u00a0<\/span>In 1799, Astor <\/span>acquired several tracts of land in an area that is now known as New York City\u00a0<\/strong>(perhaps you’ve heard of it?). This guy\u00a0had the foresight to predict a major\u00a0economic boom and fortunately, he had the means necessary to acquire\u00a0this land at a time when\u00a0<\/span>nobody else saw the opportunity<\/em>.\u00a0<\/span><\/p>\n

“His estimated net worth, if calculated as a fraction of the U.S.\u00a0<\/span>gross domestic product\u00a0at the time, would have been equivalent to $110.1 billion in 2006\u00a0<\/span>U.S. dollars<\/em>, making him the fifth-richest person in American history.”<\/em> (Source:\u00a0wikipedia <\/a>via forbes<\/a>)<\/span><\/span><\/p><\/blockquote>\n

Okay… \u00a0 but that was 200 years ago – right?<\/em><\/strong><\/p>\n

That time has\u00a0come and come. We\u00a0can’t\u00a0find those<\/em> kinds of deals any more – can we?<\/p>\n

Take a look at these various real estate markets around the world and you tell me<\/strong> – do you think it’s still possible to buy real estate in the path of growth? Which markets do you think will follow this pattern over the next few decades?<\/em><\/p>\n

Shanghai, China 1990<\/h2>\n

\"Shanghai<\/p>\n

Shanghai, China 2010<\/h2>\n

\"Shanghai<\/p>\n

via<\/a>\u00a0\/ via<\/a><\/p>\n

Dubai, United Arab Emirates 1991<\/h2>\n

\"Dubai<\/p>\n

Dubai, United Arab Emirates\u00a02014<\/h2>\n

\"Dubai<\/p>\n

via<\/a>\u00a0\/ via<\/a><\/p>\n

Chicago , United States 1955<\/h2>\n

\"Chicago<\/p>\n

Chicago, United States 2014<\/h2>\n

\"Chicago<\/p>\n

via<\/a> \/ via<\/a><\/p>\n

Hong Kong, China 1900<\/h2>\n

\"Hong<\/p>\n

Hong Kong, China 2012<\/h2>\n

\"Hong<\/p>\n

via<\/a>\u00a0\/ via<\/a><\/p>\n

New York City, United States 1911<\/h2>\n

\"New<\/p>\n

New York City, United States 2014<\/h2>\n

\"New<\/p>\n

via <\/a>\/\u00a0via<\/a><\/p>\n

Toronto, Canada 1930<\/h2>\n

\"Toronto<\/p>\n

Toronto, Canada 2013<\/h2>\n

\"Toronto<\/p>\n

via <\/a>\/ via<\/a><\/p>\n

Los Angeles, United States 1970<\/h2>\n

\"Los<\/p>\n

Los Angeles, United States 2013<\/h2>\n

\"Los<\/p>\n

via <\/a>\/ via<\/a><\/p>\n

Shenzen, China 1982<\/h2>\n

\"Shenzen<\/p>\n

Shenzen, China 2010<\/h2>\n

\"Shenzen<\/p>\n

via <\/a>\/ via<\/a><\/p>\n

Athens, Greece 1860<\/h2>\n

\"Greece<\/p>\n

Athens, Greece 2014<\/h2>\n

\"Greece<\/p>\n

via <\/a>\/ via<\/a><\/p>\n

Tokyo, Japan 1945<\/h2>\n

\"Tokyo<\/p>\n

Tokyo, Japan 2014<\/h2>\n

\"Tokyo<\/p>\n

via <\/a>\/ via<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Have you ever heard of John Jacob Astor? A couple\u00a0hundred years ago, this guy\u00a0was kind of a big deal. Astor was one of the earliest (and most successful) businessmen in […]<\/p>\n","protected":false},"author":1295,"featured_media":57965,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7381],"tags":[],"class_list":["post-57806","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing-prices"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/57806","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/1295"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=57806"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/57806\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/57965"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=57806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=57806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=57806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}