Charles Hugh Smith says the housing market is close to a collapse in demand. The latest expansion is so symmetrical that the markets are now signaling collapse, even as market delusions have kept them attractive…
Certain places in Europe are definitely worth looking into at the moment. Because aside from attractive prices, there are several good reasons to own foreign real estate.
Owning property is a great way to trade paper currency for something that has real value and can generate long-term income streams. It’s also a great inflation hedge.
More importantly, ownership of foreign property held personally is not a reportable asset for US taxpayers.
This makes property a great way to move and hold savings overseas.
And in many cases (like Spain, Portugal, Latvia, Greece, etc.) purchasing property is rewarded with residency, giving you more freedom and more options in case you decide it’s ever time to get out of dodge.
It’s hard to imagine that someone would be worse off trading paper currency for a beautiful property acquired at less than the cost of construction that is generating significant cash flow and providing an option for tax-free residency in a sunny country overseas.
I live in an apartment. I have some silver and gold. I want to live on the land, and own my place. But I am not sure if I should buy land right now.
My question is: do you think I should wait for silver and gold to prior to purchasing land, or it does not matter as land will increase in value as wel?
I know as a fact that in 10 years I will be able to buy those cheap-looking suburban houses for a couple of Au oz.
But what about good quality land? What about land where you can hunt, get some woods, or grow things? Will they be worth MORE or LESS in gold or silver as they are right now?
And what about quality of life as well. I am trying to put that in the equation: every year is not coming back. So how do I put a price on those years wasting my time in an apartment instead of living on the land…
But still: if I buy now I put myself into debt and I must sell my silver and gold.
We decided to open this Q&A up to the collective wisdom of SD readers this Labor Day weekend. The Doc will chime in later in the weekend with his thoughts on the issue.