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Article: Despite housing sales slump experts say real estate is still a hot investment.(BUSINESS)(R. Donahue Peebles)
- Article from:
- Jet
- Article date:
- October 1, 2007
- Author:
CopyrightCOPYRIGHT 2007 Johnson Publishing Co. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Real estate investor R. Donahue Peebles was just a newborn when his parents purchased their Washington, D.C., home in 1960 for $16,000. In 2006, Donahue's dad sold the home for nearly $600,000.
"You can see that real estate performs really well," says Peebles, 47, author of The Peebles Principles, a book in which he offers advice on how to become a successful entrepreneur.
Though real estate can be profitable, The National Association of Realtors (NAR) reports that delinquencies and foreclosures are on the rise and are projected to continue through 2008 (See chart on page 48).
Because of all the buzz surrounding declines in the real estate ...