I've said it before and I'll say it again. This feels like 2007 all over again economically. has for months. the pain of 2008 will be back for a whole new generation...
Discussion
Every 13-15 years they do this.
The rents in tamarindo in Costa Rica have been jacked up loads on the perceived boom. Businesses are closing everywhere as a result and people donāt seem to see it. I lived in another coastal boom town in 2007, Marbella in Spain. Itās the same signals in the same types of places. Fascinating really
totally fascinating. I asked my chiropractor recenlty what he was seeing since he talks to people all day. he told me he's seeing the slow down in local real estate here. because is this the right time to buy a $400K house in Phoenix? he says real estate folks tell him they're seeing a slowdown.
There are certainly signs. Is that expensive for Phoenix? In Costa Rica itās multiplied by post Covid. We had a wave of what I call āmillionaire refugeesā coming here from USA and Canada just buying everything up so it kind of multiplied the speculative boom. I move here in 2018 as wanted out of Europe before 2020. Bought a plot for 45k usd which would now cost 200k. Absolutely nuts and totally pricing local people out of markets. The rentals have gone really stupid and I have heard of multi unit properties now vacant with owners still holding their prices at 1600usd per month for 2 bedroom place. Nuts. Average wages here are around 1200/ month
I think it's probably average, depending on neighborhood. Then again, it's probably the minimum. That's insane when locals get driven out like that. those are NGMI numbers for sure. š¢
Yeah, have to see what happens here. I think my local area had it worse than some but the topic of āgentrificationā is in the national press. One of our local quiet beaches got bought a couple of years ago. Now has a golf course and private development where lowest price property is 5m and theyāve started asking people why theyāre visiting the beach as if itās private. All beaches here are public by law. All is change! Letās see what a crash brings I suppose. I just carry on trying to orange pill people and hope people are prepared cause the rental increases are hitting everything including food and people are price gouging too. Crazy days!
Indeed. and that's all we can do, is teach whoever is willing to learn
They pumped so much green into the system we should be good for 8-10 more yearsā¦.
...and not done yet
That's why you need to start investing your bitcoins in bitcoin investment companies