I really am buying some real estate here…
I really am buying some real estate here in NM. Here’s my recent real estate asset class write up from the 20 Trades to Save Your Portfolio in 2011 report:
Real estate
The single biggest concern about real estate is that the robo-signing/mortgage fraud and all the other anarchic disregard for rule of law that the Republican/Democrat regime has implicitly and explicitly refused to prosecute destroys the concept of private property.
Couple that with the fact that the U.S. government is now the mortgage holder for more than 70% of all mortgages in this country (and that doesn’t include the other 30% owned by the government-sponsored/bailed out “private” banks) and we’ve got a rather socialist/communist real estate paradigm.
The flip side is that if the Republican/Democrat regime does actually take us through to the end game of the communist land system they’ve been steadily driving us toward for the last thirty years or so, then the entire economy and stock markets and the rest of your savings (not to mention the entire fabric of society) will collapse anyway, so why worry about it? Seriously, that’s how bad things will get if you don’t, as voters, force the government to force its bureaucracies to start enforcing the law.
I believe that America will return to private property rule of law and that the criminals, both executive and on down, will eventually be punished for their frauds, theft and corruption and that’s part of why you have to be willing to look at real estate as an investment here. Anywhere like Vegas or Florida or even in my hometown of Ruidoso, NM, where real estate values are down 30%-50% from their levels just two years ago, are probably the best places to look for real estate bargains. But all real estate is local, and I would recommend sticking with locales you know well.