I'm fairly well off and retired at 56. I live in Brookline, MA in a well priced condo. At this time of year when school gets out and medical residencies end, lots of condos go on the market. But the homes in the area ($2M+) are relatively sparse. Not this year. Seems like a lot of people are bailing.
To anyone with any understanding of economics and history, to anyone with two brain cells, the current administration is sabotaging the fundamental economics of the country. We can have a discussion about the pros/cons if you like, but everyone with a degree in econ or finance agrees. I have a fair understanding of economics, and this does not look good to me. I did well in 2008 by staying in cash. BUt now I'm recently retired and getting worried.
All of a sudden, SERIOUSLY rich people al over this town are bailing. They can afford far btter advisors than I have. I mean, it could be coincidence, but the sheer numbers of stately homes/mansions are suddenly coming onto the market. I do not think this is coincidence.
I did very well in 2008 because I am super well located. I'm a mid-range condo, but on a beautiful pond, next to the subway, a 10-15 minute walk from Harvard Medical School (where I worked) and several top tier hospitals and research centers. Foreigners bought us up the minute we sold. The condo actually had to pass a rule so that no one could but more than 5. There was nothing but demand. But now the administration has sabotaged academic, medical, and scientific advancement. Every other country is becoming to the top people in the world to come to them - no fear of a concentration camp or gulag. And a promise for full funding of research. Wea re now the inverse of the '30's where the best came here. We now repel them.
So, have we undone a big draw of major cities, forever?
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source https://www.reddit.com/r/RealEstate/comments/1kidhpa/are_top_markets_imploding_soon/
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