The financial system is definitely in major trouble, which is an understatement. However the tendency is to blow up the bubble even more. Look at US Treasury Sec. Paulson, calling for more deregulation, despite Amaranth and Enron and things like that (See text of Paulson speech, Nov. 20th). If you want to invest in real estate, that may help a little, since it can't go down to nothing, but the American market is blown out in most places for a while. A consultant has turned me on to the company, Nubricks a source on information on the overseas real estate market.
They have a pod cast, and they seem to be Irish investors operating in part from London. Politically, that may not be such a hot number, but financially, nubricks is definitely where the action is. If the US market really tanks, the center of world financial action will tend to shift to London. That is the capital of the "Empire" after all. Of course, if Bush and Co. go ahead with the Iran war, all bets are off. That would really be a disaster, financially as well, if you know what $120/barrel oil means.
Oddly enough, Nubricks is actually pushing real estate investment in Morocco. Maybe they know something I don't know. Of course if you start with lower prices, there is more room to go up. When you pay $1.5 million for a 3-bedroom on the east side of New York, that about maxes out the credit card of even the IT guys, if you're still on a salary and no mega bonus.
If we can get a US led re-regulation of the system, this whole speculative thing can be calmed down. You may then not make as much money, but at least you won't be hung out to dry.
Wednesday, November 22
Other Places for Real Estate?
Posted by Howiecopywriter at 9:57 AM