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How does the statement shelter is a basic human need, but discretionary spending may be cut in times of economic uncertainty relate to waterfront valuation
How does the statement "shelter is a basic human need, but discretionary spending may be cut in times of economic uncertainty" relate to waterfront valuation 1) recreational waterfront is considered a luxury item, so values may be more prone to market volatility than basic residential land 2) in good economic times, less desirable quality waterfront may come into demand, and vice versa in downturns 3) it may not be financially feasible to "cure" waterfront properties with problem topography unless the market outlook is strong 4) All of the above statements are true
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