Time to move forward from the Greek vote and focus on the central banks
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J, The Long,
Let’s hope the property values here in Florida stay put for a while. I have a second home I am trying to sell! 😉
Jody D
hope values go up…………but, do not look forward to the tax increase…….
My predictions are …………….prices are going up…………there are a lot of baby boomers in cold weather, who want to go south and stay south…..it is an end of their dream.
I posted a couple of weeks ago…………the population growth………..from the 1960 to present… THE numbers were ………….1960 …5 million people ….today….20 million.
OOTB, I’m worried about the new FEMA flood zone changes. Hopefully it won’t affect my properties. Property values reportedly up approx 12percent in Sarasota County this past year. Flood zone changes could cost thousands more for homeowner insurance.
Jody D
Now that is a tricky one….FEMA. I am sure Warren B., has gone to his favorite congressmen, and going to sock it to any and all around the flood zones…..
Going forward……taxes and insurance are the way to eat up one’s income.
Plus , if you live in a condo, association fee HOA, and monthly fees are going to eat into the living standard of those water front condos………J………
Hang in there, there are a lot of Canadians and Northern Snow birds , that still have a DREAM.
I will give you one more…………My REAL ESTATE PROFESSOR , in the 60’s said, “follow the baby boomer , and you will make a fortune”… there are 75 million strong or weak, and a heck of a lot of them want warm weather when they retire………j.
I will give you one more…..if you are trying to sell……….GET THE BEST SALESMAN YOU CAN FIND………fact…….90% of the real estate is sold by 10% of the salesmen…
Great Commentary from Rick! I completely agree with his points that this news was already expected and factored in, and that it is not a major market mover at this point. I also don’t think it had much to do with the fall in Gold, because Gold started falling on Thursday right in line with the expected correction and on the ECB announcement and has just continued through the Friday PMI numbers and this Sunday (totally expected) Greek vote.
Gold needed to correct once it got past 1300 and hit 1307, 1305 and then 1305 again forming a triple top, and any news was going to cause this (whether it made fundamental sense or not). The correction is almost over, and we likely have to get through a Non-Fed event this week and the uptrend should begin again.
The relevance of Greece, the ECB and Draghi Quantitative Easing announcement, and the surprises from the Swiss and Canadians, and Germany requesting its gold reserves returned from the USA and UK show how wild the Currency Wars are starting to wage. In addition, Venezuela is having a hard time (like many emerging market countries) dealing with the stronger dollar and weaker local currency with a bizarre pegging as well. Greece is just another nail in the coffin for roiling currency markets, but the true ramifications are still not apparent, and only when the turds hit the fan will the masses realize the role of Gold/Silver, but then it will be too late.
If gold falls to 1250-1240 range then, that would be a good mid term entry point for a rise into Feb and then an exit in early March.
Might be time to pick up a GREEK ISLAND on the cheap……………..
Great point J…OOTB. Island shopping in the Mediterranean sounds fantastic!
Maybe we could get one and call it…………KORFOOL………….
OR THe ISLE OF ………………………..
Max Keiser describes the rising market benefiting the 1% as like the way the bow of the Titanic rose in the water while the rest of the ship went under. But the top too has only one place to go.
… didn’t it go under bow first?
No. It broke in two.
OK maybe it was the film version….but same idea, yes?
Gold now $1280.
gold doing fine……………………….j
In Greece, it is very easy to go down the road to ruins 😉
I thought all roads lead to Rome……………………..
The elite control all currency ! BUY BUY GOLD !
Greece will continue no matter what the IMF/ECB/FED mob do. Now 1/2 of the countries GDP is underground now. I would like to see that happen all over the West….we would see the money pigs die a quick death:)
Since RICK came back from Florida……….does he have any thoughts on FLORIDA REAL ESTATE……….thanks…………………………………j.