“Buying real assets is never a bad strategy.”
Paying over $1 million for a California house that sold for $47,500 in 1972 is dangerous.
Paying over $2 million for a Florida house that sold for $42,500 in 1956 is dangerous.
Paying over $2 million for a Florida house that sold for $42,500 in 1956 is dangerous. Probably not. It would have been quite a home for that price in the 50’s. Most likely waterfront. In fact, in many Michigan markets a $40,000+ home from that era is well over a million, too.
I see what you mean.
Where I live we have had very low property values, because local wages do not support higher.
Right now we are experiencing an influx from out of state. I think most of them have just had enough and are afraid of the chaos which may come. I think that is a good strategy.
What will happen to high priced homes in large costal cities if the ComDems tank the economy. (likely if not stopped)
And I forgot to mention, real assets include more than homes.
Financial Equities, Businesses and manufacturing companies are also real assets.
Paying $42,500 in 1956 for a Florida home would have been off the charts... You could buy a 4 bedroom 2 bath Florida house in ‘56 for $9,000. With no down payment.