Well, maybe. Maybe not. I wish I knew.
Several months back we discussed the insecure economy and market, and talked about buying Gold as a hedge..... just in case.
Now this, from Tennis.com:
Andre Agassi and Steffi Graf just sold their home in the San Francisco area for $20 million.
This is the second highest sale price for a home in their county, yet it's bad news. How can this be?
The highest price paid for a home in their county was $23 million, when they bought this same home a few years back.
So much for Real Estate bein' a "sure thing"!
A personal story:
In 2000, I bought a piece of property in a prime location.
If..... IF I had been smart enough to sell it last year during a window that opened for about 6 months, I could have sold it for four times what I paid.
Now I'm not sure I'd even get a nibble if I put it on the market.
Buyers are taking a "let's wait and see" attitude, watching to see if there is a bottom in sight.
I'm hearing rumblings about A.R.M.'s and "interest only" loans.
Some so-called "experts" are taking on the Chicken Little role, announcing the sky is gonna fall. I have no crystal ball, but I'll repeat the mantra I live by:
"Hope for the best, prepare for the worst."
So, be prepared.
For several reasons, gold still looks like a secure buy.