Ladies and Gentlemen, the foreclosures are mounting. Is the picture relatively stable in the Dallas Fort Worth area? Yes, for the time being. But as much as I try to paint with rose-colored glasses here, the glass is not half full.
The United States is about to enter a period of inflation and recession. This will be a peak and valley roller-coaster beyond what we have experienced in the past. Real estate is no longer a solid asset (in the US at least). More importantly are commodities. Metals, like copper, and oil will define the best holdings of the age we are now embarking upon. As unsettling as it may seem the currency of the United States is losing its luster and will continue to do so. I don’t care to go into the particulars, but the dollar is a terrible asset. Stocks are not a decent alternative either.
I hate to sound so drab, but I have spent my entire life in commodities and I see the problems at hand. If you are a real estate agent you should probably consider making a switch while you can. Interest rates will soon (maybe 2 or 3 years) kill your business, similar to the phenomena of the 1980’s. If you work elsewhere and you are not worried about your job, you should probably begin to think otherwise. Unemployment isn’t going to be alleviated any time soon and you can rest assured that we are not going to have a quick recovery.
The paradigm is shifting. The government is spending to much money and the rest of the world no longer trusts our currency. The idea that you can continue to live your American suburban fantasy is only a fallacy. The world is simply changing.
October 16th, 2009 at
Holy crap that’s depressing! Really? It’s that bad? I thought we’d already entered the recovery phase.