In Down Economy, Owning a Vacation Home May Be More Business than Pleasure
(Washington Post) — Tina Lambert and her husband wanted an investment that would help them pay for their kids’ college tuition someday. When he insisted on paying $49,000 for a condominium in Ocean City in 1997, she worried. But by the middle of this decade, when housing markets were in full boom, the condo’s value had increased nearly fivefold. It worked out so well, they decided to buy another condo, this time for $160,000.