“The stock market was in meltdown today as nearly £60billion was wiped off London shares.”
Right – Real Estate is the asset class where normal folks will lose money…. Sure.
Just don’t look at the elephant in the corner.
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Benn Rosales
January 21, 2008 at 11:25 am
The media will have this whipped into a frenzy by COB today.
Benjamin Bach
January 21, 2008 at 11:41 am
It’s nuts to me to think that stock indeces are losing 3-5% value in ONE DAY. Sounds like a great place for your retirement funds 🙂
I met with a client today who was planning to take some money out of her stock portfolio as a downpayment on a property closing in May – she has 5% less to put down, as of this morning.
Moral of the story: put your downpayment funds in a money market account – security trumps return sometimes. Return OF equity first, then return ON equity.
Athol Kay
January 21, 2008 at 3:18 pm
I just see stocks and real estate as two different investment strats. Most normal people buying homes aren’t usually viewing it as anything other than a place to live though. In that sense it’s a pretty safe.. well “safe as houses” investment.
Once you start pushing it purposely as investment though, their are serious risks (and potential rewards) to both options.
One good thing about stocks though. If your stock tanks, what you had simply isn’t worth much anymore. If you were a no money down cowboy and your property lost value… thats a scary place indeed.
Agree with Benn, and with Ben. 🙂