Machete, my views are aligned exactly with yours. I'm stuck in New York but looking for a better place. After finishing my work I retired very early and lived off rental property. I've sold most of them, paid the mortgages on the rest and added to physical gold.
The bubble is huge,and most of the appreciating assets that traditionally defined Middle Class have been replaced by debt. Those without income producing physical assets or marketable skills will starve in the coming inflation. The can's being kicked down the road one last time and the bubble will burst.
There will be a fire sale in stuff that people can no longer afford.
At least that's how I see it. The middle class will be beaten down into a working class that labors to pay bills and feed debt. The working class is being reduced to a mob with their hands out and will trade their freedoms for a bologna sandwich.
Financial independence and security will be rare as competition for jobs become a race to the bottom. Some crumbs will be scattered out by government in exchange for control and freedoms.
Sounds like you're on a great track. Real estate here had a big run-up and is now languishing. Lower interest will no longer help. Wait for the hype to slow down and the bills come due before you buy. Life is too short to be imprisoned by debt.
Just beware of the tax-and-spend socialists from New York that invade your Florida paradise and demand the changes that destroyed this place.
What do you see coming down the pike?
Speaking with a couple real estate agents, they are saying this summer home inventory will increase in Florida. Many from up north moved down to Fl in a panic, never sold their houses there, and now are looking to return because 1) they can't sell their houses 2) they really miss their families and want to move back 3) States are signaling relaxing their shutdowns.
I found that very interesting. The same can be said about boats. Many first time boat buyers who were unaware of the maintenance costs associated with boats.
In Florida, jobs continue to open up in the travel & leisure, and restaurant sectors. DeSantis is doing a great job and we enjoy no mask mandates and going out to restaurants.
COVID rates continue to plummet here, many northerners have gotten their vaccines here. As the weather improves Spring and Summer many will flock back north and snowbirds return. Florida will be fine.
With the chaos at the southern border, low wage job seeking Americans will struggle to compete as you said to the bottom. I expect an eventual bursting of the bubble but I believe the air will deflate initially slowly then increase in speed until finally a burst with market corrections, inflation, interest rate spikes, and higher unemployment.
The entire economy is buttressed by fiat money the Fed is flooding into the public. As that money dries out people will find themselves hoodwinked. Hopefully. And get back to sound living principles.
