In 1950 our GDP was a fraction of the size and our currency was backed by the gold standard.

A 100+ year old house could be a serious money pit and like Ann mentioned the stats of McGill are quite depressing.You could generate some serious cash flow with $350k elsewhere and not take on a fraction of the risk.

You're looking at 60-65% LTV's at best and above market rates.2) You'll pay UDFI tax on the debt financed portion. 3) The debt financed fraction is current debt divided by the basis.

A private investor might be willing to settle for a bit less.For an equity investor, they own a fraction of the company.

In addition, you have an asset that is (or can be) leveraged by a fraction of it’s value.

In my opinion, no matter how you slice it, giving a central cartel of bankers the ability to expand and contract a fiat money supply, complemented by a fractional reserve banking system... well, based on world history, there is zero probability of our currency surviving.

It is not uncommon for business bonds to trade on the after-market for a small fraction of their face value in realization of the likelihood of these future defaults.

The problem with that is that the economy uses fractional reserve banking, which is essentially leveraging the entire economy.

This is the aftermath of fractionalized banking on Steroids and Meth.Look at the unchecked growth of M2 and M3.

There are many areas of FL where you could have your pick of houses just like that for a fraction of that price.