The largest single investment class in the world continues to deflate with no end in sight. 2 million homes, at least, are empty and not even on the market yet...and there's 16 months of inventory on the market now.
Another 12million are "under water" and one has to wonder how they'll act if they lose another 10%, 20%...40%. Here in CA I have lost 30% since 2008. I'm lucky. I know people that have lost 60% and are still paying their mortgage.
But for many, not for long.
There's at least 5 years of hidden/potential inventory.
A good hedge bet is new construction economy apartments. Beer. Car Parts Stores. Guns. Ammo.
If you can afford it, good farm land with a reliable creek through it.
Ideally, a "reliable creek" that is not subject to the jurisdiction of the Corps of Engineers.
Unfortunately, there ain't no such thing...
I read last week that one in every five houses in Florida are sitting vacant. That’s amazing.