There are times when huge fortunes have been made in real estate. Family names have become legendary because of the prescience of a forebear in buying real estate at the right time.
But that time is not now.
As we approach the necessary denouement of the Great Fiat Fantasy, so governments will fight tooth and nail to hang on to the illusion that the debt-based ‘money’ system is still working. That means taxation will rise – across the board.
The slow-footed will be caught with their pants down. They will be fleeced of everything, and quickly. Mostly, they own real estate and it will be hit hard. Why? Because it is impossible to hide and many other things are not. Investment properties will be the first to take the hit. They’re an easy target because ‘only the rich’ own investment properties. As in Italy after the 2008 crash, they were taxed so punitively that owners were unable to pay the tax bills and unable to sell the properties. It was ruinous.
For most people, the family house remains the most valuable asset that they will ever own. That will be the last to be hit, because of the obvious repercussions, but hit it will be. Needs must. Owning any sort of real estate will become a disaster.
Will governments taxation really become that out-of-control?
Recall the story of the collapse of Rome. First they raised taxes on crops so much that the farmers stopped planting seeds. So they began to tax the land based upon what the tax inspector estimated it should grow. So farmers tried to sell their farms and could not – because of the same tax overhang that ruined the Italian property owners in 2008.
The farmers became trapped in a taxation nightmare. The situation was so dire that they began to sell themselves into slavery, because slaves were not taxed.
So the government made it illegal for a Roman citizen to sell themselves into slavery. Then it all collapsed.
The taxation was so bad, that when the barbarians were at the gates, many Roman families fled out of the city and through the barbarian lines. Imagine how bad the taxation has become to incur that sort of a risk for your family.
Do not buy real estate now. If you already own real estate, then sell it. Keep your Gold hidden and wait.
At some point, Gold will begin to circulate again, but whether that is before or after a fiat collapse can only be guessed at. Hopefully it is before so that we can transition with a modicum of order. Either way, the level of taxation is set to become ruinous.
Right now, Liquorice Allsorts would be a more prudent investment than real estate.