05 Nov When Recession is Profit
The current U.S. economy just plunged and nearly receding after dollar weakened and oil price reached $100 per barrel. The economy even worsened with the global food crisis. Cost of basics immediately inflated to new high and new low. Transportation, food, education became more expensive.
On the other end though, prices of real property crashed. Real property, specifically housing, became cheap. Being much more a long-term and costly investment, properties are pegged more cheaply to simply sell. Supply of houses just exceeded the demand as more properties are foreclosed, in effect of weaker purchasing power of dollar. Households just suddenly could not afford to pay housing mortgages.
Gluts, by economic theory, often result to cheaper prices. This housing crash relatively transcends to land value. If land then is sold at $5,000, it is probably sold now at $4,000.
To most, the near economic recession is really recession. It is otherwise to others, especially dollar earning overseas workers, importers and likewise to tax delinquent investors. Power purchasing of other currencies strengthened, enabling other countries to earn more. Cheap lands are premiums. Though profits would remain or lower, cheap lands would then be more marketable in the real property industry. This is why you must always buy cheap. Buying tax delinquent real estate is profitable in any market be cause you can literally buy land for pennies on the dollar. No matter what the economic state of the country is you can always turn a nice profits by selling at affordable prices.
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