The property market today
You may not know this but the property market today is experiencing a huge fall in the prices of houses. Why? you may ask, well the answer is not farfetched. The current government policies and economic recession experienced in the country has caused people to have less money in circulation and fewer people to be able to afford buying houses the way they used to.
Right now, buying a house is just like tying your money down in a fixed deposit account, the difference is that you will not be sure when you will be able to collect your investment. What about the value of houses? you may ask. Well, right now we are also not seeing any great appreciation in the value of houses today. However, I am still convinced that investment in real estate is a good long term investment.
At the time you are investing, you need to recognise that you cannot get all the money back immediately. That is to say, you are making a long term investment! it may not look great now, but you can be sure that it is likely in the coming years, the prices of houses will appreciate and you will get value for your money.
Real estate is always a preferable area of investment, even if you need money urgently, you can use the house as collateral for a loan. This is not the same in other types of investment particularly the online get rich quick schemes we see in the world today. The point is, despite the apparent economic downturn, this is not the time to give up on the property market, as it is said 'no one knows tomorrow'. The down turn today could be a sharp rise tomorrow.
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