The EU appears to be in a tailspin thanks to Greece and the rest of the PIGS. Slightly sketchy balance sheets and a European Union who weren’t inclined to look too deeply into the application for membership have resulted in an organization that may have some issues in it’s fundamental stability.
Does that sound a little bit like bundles of US loans to anyone else?
The TSX and the Dow both have taken huge single-day drops in the past few weeks, showing how skittish the market is and how quickly the value of those assets can change.
It’s a great time for those who have cashed out of the stock market to think about putting their cash into solid, positive cash-flow properties in strong economic regions. Screw trying to make a million dollars buying some depressed asset in Phoenix. Be more like Buffet and buy strong assets with a long-term future. Look at fundamentals of the region, the future and the market. Stop chasing the deals and look for something with a positive future.
There’s no doubt that people will still require houses in 10 years. And there’s no doubt that there’ll still be people and jobs in Alberta. There is significant doubt and uncertainty in the stock markets.
I bought another townhouse last week and I’m hoping to buy another in the next few weeks. Strong, solid properties, bought only a little bit under market. I might not get the excitement of checking my stocks every day and watching a crisis half way around the world destroy half my portfolio. What I do get is a asset that keeps writing me cheques every month, and with almost 15 years experience in property management, you’d better believe that I know how to keep those cheques coming.
So this weekend Megan and I are going to hit the road and enjoy our first Anniversary driving around southern Alberta. Then, we’re going to come home and continue kicking some serious butt. Life is amazing. How about you?