I feel like the William Tell Overture should be blasting over my sound system as I look at the cover of this months Fortune Magazine trumpeting the return of real estate. Forget stocks, forget gold, and put your money where it's bound to grow over time good old real estate.
You can read the entire article for yourself, but honestly this comes as no real news to me, it simply mirrors what I've long been saying, as long as population continues to rise, there will always be a demand for real estate.
Real Estate Is Still A Top Investment Choice
It's simple, most of the planets land is either uninhabitable or undesirable, leaving a limited supply of places people can and want to live. If you don't believe me go online and take a look at some US population maps. Even here in the US where 99% of our land mass is in fact habitable the majority of our population is concentrated on less than 15% of the country.
Gold is worthless for the most part and is truly a suckers bet. You can't eat it, it's extremely heavy and not very portable, and more than 85% is used for one purpose only jewelry which I think we'd all agree is a luxury item not a necessity. It has very limited practical use. I also believe that anytime Glenn Beck promotes something you know it's a fools bet.
Stocks unfortunately are overseen by thieves, liars and crooks who manipulate the market to their own advantage. Unless your one of these scoundrels, you have very little real chance in this market. The same applies to commodities, only more so.
The Best Time To Buy Is Now
This leaves real estate and as the article in Fortune points out, much of the US real estate market has come down in price significantly. New housing starts are way down and are likely to stay down for another few years or so, and at least for now interest rates for mortgages for qualified buyers remain well below average.
If you know you're going to be in one place for five or more years and you need someplace to live, now is the time to buy.
Posted by Larry Tollen on
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