Plus Les Choses Changent
Friday the Dow Jones Industrial Average plunged over 600 points in a massive asset selloff due to market fears generated by political instability.You would think that would be a headline by now.You might think this is news that would have us all stopping what we’re doing and discussing, at length, the implications for our communities and our world.
But we don’t, and do you know why?Because we’re used to it.
The quote above is an old, famous French saying: “the more things change, the more they stay the same” (although I only used the first line for the title).Truer words were never spoken.Today’s market panic was triggered by the “Brexit” fiasco, wherein the British Parliament has actually voted to withdraw from the European Union.As with all major political events, it’s wreaking havoc in our financial markets and birthing a Doppler effect of political turmoil.This comes in conjunction with our own Presidential race which, whatever party you support, is a circus at best.Lurking just beneath the surface is an economy on crutches, propped up by an artificial currency and an unrealistic interest rate.
I don’t say this to scare anyone, it’s the world we live in.I say this to offer advice to those who seek stability for their families and financial security for the future.Events such as these serve to remind me that the one, best, most reliable investment you can make is in real estate.I myself tend to buy and hold properties, not flip them.My personal opinion, based on years of my own errors, is that the one investment you can count on in the coming decades will be real property.Stocks come and go, entire industries disappear overnight (Blockbuster, Tower Records), but no matter what happens to the world economy every single one of us will always need a place to live.
Keep that in mind when planning your portfolio, and give us a call to get more details.It’s what we do and we do it very well.