Investment Opportunities in your Neighborhood
I'm always on the prowl for investment ideas. Hardly a day goes by that I don't run across something new and interesting that might be a new trend or idea that will turn into a real money maker. That's probably Peter Lynch's influence. I read his book oh so many years ago and it stuck with me.
I went for a walk around the neighborhood this weekend. I noticed that several homes, more than the typical one or two, were in the process of being updated. Evidence was easy spot. One home had pallets of paving stones stacked at the curb. Another had one of those huge dumpsters remodelers use when they're tearing out the old decor. Another house had an enormous pile of decorative landscape rock. The house just up the street has 3 huge bags of shredded tire mulch at the curb, awaiting distribution and spreading.
None of these projects are your typical small weekend projects. These are the multi-thousand dollar undertakings that require a dip into savings or a trip to the home-improvement mortgage lender.
They leave me wondering whether high gas prices and slow home sales are causing people to den up. Are my neighbors canceling their summer driving vacations to the coast and using that time and money to fix up? Are they fixing up as an alternative to moving up?
If this is indeed what's going on, could it be a sign of a larger, more widespread trend? If so, there is money to be made there.