Thursday, August 11, 2011
When is real estate, a usable hard et unlike gold, due to roar to life with the dollar's pending collapse?
Having been around a loooong time, I believe gold is grossly overpriced. In the metals mania of the late 1970's when gold topped $1000 per ounce, silver was at $60 or a ration of about 17:1. When the metals market crashed gold dropped to less than $300 per ounce and silver to about $7. Lately gold has been running over $1200 and silver only about $20, that's a ration of 60:1. Either gold is overpriced or silver is underpriced. I think gold is a very bad LONG term investment because I've seen the market do this before. In three years time gold will be $300 - $400 per ounce again. As far as real estate investments go it's location, location, location. I have lost zero value on mine. I live in a rural area that did not see the job losses and foreclosures that metropolitan areas did. There was also very little speculating going on in rural America, that was a big city problem.
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