Great "True" Story about Houston Temple

[cougjunkie]

Where does the church own a ton of property with nothing on it? Florida, with their giant ranch? (speaking of the bottom line, that ranch is worth a fraction of what it was worth a couple of years ago, based on the state of the FL real estate market). Downtown SLC? What else? Temple building seems like a nice way of buying up urban real estate.

I am guessing the church would have better luck reselling an empty lot then they do a 2 million dollar 15,000 sq ft church building.

[Indy Coug]

I am guessing the church would have better luck reselling an empty lot then they do a 2 million dollar 15,000 sq ft church building.

Given how Robin thought buying real estate in South Central was a good idea, I'm not sure he's the right person to be offering up opinions on real estate acquisition and development.

[creekster]

It won't surprise me a bit if we discover in thirty years that the temple expansion program was primarily a way of collecting real estate during some boom years.

It won't surprise me a bit if you discover thirty minutes after reading the response to this argument that you suddenly wish you hadn't made it.

[RobinFinderson]

Given how Robin thought buying real estate in South Central was a good idea, I'm not sure he's the right person to be offering up opinions on real estate acquisition and development.

I live ten minutes away from downtown, ten minutes away from the beach, and my house is STILL worth significantly more than what I paid for it. Can you tell me how you are situated in the current RE market so we can compare?

[Indy Coug]

I live ten minutes away from downtown, ten minutes away from the beach, and my house is STILL worth significantly more than what I paid for it. Can you tell me how you are situated in the current RE market so we can compare?

My kids don't hear gunshots.

[cowboy]

Where does the church own a ton of property with nothing on it? Florida, with their giant ranch? (speaking of the bottom line, that ranch is worth a fraction of what it was worth a couple of years ago, based on the state of the FL real estate market). Downtown SLC? What else? Temple building seems like a nice way of buying up urban real estate.

The Church owns nearly 1 million acres of agricultural property scattered all over the world. My best estimate of these properties' worth at today's market value is $2.4 billion. The cash return of these investments alone is probably around $120 million.

These are all just my guesses, so don't quote me.

[RobinFinderson]

My kids don't hear gunshots.

Not yet. And was that security worth an A.R.M. and two broken legs?

[wuapinmon]

It won't surprise me a bit if we discover in thirty years that the temple expansion program was primarily a way of collecting real estate during some boom years.

Guys, he's kidding. There's no way he actually believes something as stupid as this. Give him some credit.

[Indy Coug]

Not yet. And was that security worth an A.R.M. and two broken legs?

I've been in my house less than 3 years and our property value has been flat, which is substantially better than most places in America during that stretch of time which has decreased by 10%-50%. I don't have a security system, I don't own a gun and I don't have an ARM.

[Clark Addison]

Where does the church own a ton of property with nothing on it? Florida, with their giant ranch? (speaking of the bottom line, that ranch is worth a fraction of what it was worth a couple of years ago, based on the state of the FL real estate market). Downtown SLC? What else? Temple building seems like a nice way of buying up urban real estate.

All over. I am as far from a church insider as you can get, but I am aware of a couple of parcels of land the church owns in our area with nothing on them. Sometimes they are for future use, either for meetinghouses or other buildings, sometimes people leave their property to the church in their wills, sometimes, I imagine, the church buys as an investment.

As CJ said, if your main purpose was to buy investment real estate, would you really spend millions of dollars putting a temple on it? If you really needed to justify it for some reason, why not put a simple meetinghouse, which is probably one tenth the cost, or even better, a small office building for LDS Family Services or something. Not to mention, can you really see the church putting its temples up for sale? Your statement makes me wonder if you understand Mormon culture at all.

[RobinFinderson]

Guys, he's kidding. There's no way he actually believes something as stupid as this. Give him some credit.

I'm not. As Clark points out, I may not understand Mormon culture at all. The entire SLC development scheme has got me a bit cynical as far as church finances go.

[TripletDaddy]

I live ten minutes away from downtown, ten minutes away from the beach, and my house is STILL worth significantly more than what I paid for it. Can you tell me how you are situated in the current RE market so we can compare?

I live an hour from downtown, about 20 minutes from the beach, my house is worth less than what I paid, and I wouldn't have my kids trade places and live in your neighborhood in a million years. Just sayin'

[The Wankster]

I'm not. As Clark points out, I may not understand Mormon culture at all. The entire SLC development scheme has got me a bit cynical as far as church finances go.

Finderson I thought you were an architect by training?

Seems like the churches SLC developmental scheme would be very easy to see, if you wereto look at it other than thru an anti's eyes.

If you own allot of property in one area, with several large buildings worth millions of $$$, you protect the value of those buildings by making sure the new buildings going in around it are going to increase the value, or at least help hold it's value.

The old SLC was just that, o l d.......

The new SLC is going to be vibrant, upscale, swinging if you will, with lots to do and plenty of places to do it.

You keep looking for the negative Robin, you'll find it if you want.

[The Wankster]

I live ten minutes away from downtown, ten minutes away from the beach, and my house is STILL worth significantly more than what I paid for it. Can you tell me how you are situated in the current RE market so we can compare?

I live in a very quite neighborhood, excellent neighbors, no theft reported since I have lived here, my property values have increased over 70% in 6 years.

Economy sucks but when it comes back I will make a killing when I sell.

[RobinFinderson]

Finderson I thought you were an architect by training?

Seems like the churches SLC developmental scheme would be very easy to see, if you wereto look at it other than thru an anti's eyes.

If you own allot of property in one area, with several large buildings worth millions of $$$, you protect the value of those buildings by making sure the new buildings going in around it are going to increase the value, or at least help hold it's value.

The old SLC was just that, o l d.......

The new SLC is going to be vibrant, upscale, swinging if you will, with lots to do and plenty of places to do it.

You keep looking for the negative Robin, you'll find it if you want.

I don't think that there is anything particularly 'anti' about the surprise I felt when I found out that the church is spending billions on for-profit real estate development while individual wards struggle to raise cash to send boy scouts to summer camp. I am rooting for the success of the church inasmuch as it is an agent for good.