Are you waiting for the prices to drop more? They probably will. But, consider this, there will be more foreclosures, and this will place more homes on the market. The more houses available, the cheaper they will be as sellers try to entice buyers to their property. It’s simple supply and demand economics. When the world is covered in gold, the value of gold will be less. When gold is rare, it’s priced higher.
This would seem to be a good thing for shoppers, but here’s the catch…looks like about April 1st the government will allow the interest rates to rise and we’ll see the interest rates go up substantially and quickly.
So, here’s the thing…you might get a better price on a house, but it will have to be a lot to make up what you’ll be spending on the higher interest rate. Unless of course, you have the cash to buy what you want without worrying about the interest. In that case, lucky you!
Banks are going down the proverbial toilet, Stocks can’t be counted on anymore…who knows what the government is going to do next? What should you do with your savings before it has lost even more value?
KY Farmland Investment
Invest in farmland. It’s safe, it’s secure, and farmland is getting more scarce by the day. If you have a good piece of farmland, it’s going to be producing an income with the crops it provides, whether you farm it or someone rents it from you. Managed well, it’s going to produce income enough to pay its taxes, as well as give you a hefty tax deducton on anything you spend on it…including your trips out there to check fences and livestock. And in a few years if you decide to sell it, there will always be a market. Unlike stock, it will never be worth nothing.
If you buy a piece of land with water, either a creek or a large pond, and with a good fence, you’ll aways be able to rent it out to someone for their horses or cattle. Put a good barn on it and your land value goes way up. Now you have a place for the tractor.
And, you can depreciate the barn.
You’ll also have a place to go when city life makes you nuts. Go to your own farmland, where the smell of good cow manure can bring you back to your senses.
Why should I invest my savings in farmland? Ask your accountant. She’ll tell you.