Guest Post by Martin Armstrong
It does not appear to be a bubble. It is not just the real estate going up in Florida. The problem is limited supply and a mad dash out of New England, Illinois, and California. But this is taking place across the board. I was looking for a classic 328 Fararri of 1985 vintage. I use to have one in London. They were going for $50,000 on average. They are now running $100-$150,000 in 3 months. The same is happening in collectibles and art. It simply appears that we are entering the phase of a massive shift from Public to Private assets. This is our Index we have provided to our Institutional clients over the decades. The historic low was 2009 post-1968. This trend appears to be in motion overall into 2032.
In real estate, very few places up for sale and they are selling very fast. The draconian measures in the Democratic states like New York and California have accelerated the migration out of those regions. More than 1 million people have fled New York City to Florida already. You have major chains shutting down in New York City. New Yorkers are fleeing to Florida and so are the restaurants from New York. New Yorkers are realizing that even when vaccinated, it will not return to normal. New Yorkers are even migrating to Texas. But with the Ice Storms there, they are already shifting to Florida.
Places like New York City are just no longer safe as is the case now in many cities in California. Gun permits are soaring in New York because of the sharp rise in crime. Politicians do not understand anything. If you are in business and sales decline, you run sales to try to boost activity. In New York, you impose lockdowns, revenue declines, so the solution is to raise taxes and fees like tolls. You can’t make up this sort of brain-dead mismanagement. Governments will never cut expenses.
On top of all of that, the lockdowns have resulted in alcohol abuse, kids committing suicide for they cannot learn remotely, the very fabric of society is being torn apart. The quality of life in New York and California in rapidly declining and the politicians will never admit a mistake.
I personally am not thrilled about this migration to Florida. Traffic has increased noticeably. Please go to the east coast! Even my house has doubled in value in four years. Florida is the safe-haven in the United States with no state income tax and no ice storms and a governor who has rejected the Democrat’s lockdown agenda that destroys society and business threaten Biden that he would call out the national guard to protect Floridians against the Federal government. I would personally cheer a separatist movement.
It reminds me of my favorite movie, Brave Heart, being of Scottish heritage when William Wallace stood up against Eglish tyranny: “They may take our lives, but they will never take our freedom.” Just sometimes, you have to stand up against tyranny or you and your posterity will lose everything.
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I barely “graduated” HS – actually I suspect the “gov propaganda spinners” – formerly know as “teachers” – simply didn’t want to “deal” w/ me any longer. That being said, back in 2008-09, I began commenting w/ the term “QE to infinity” – eventually. When and under what circumstances it would come to fruition was beyond me at that time but, well, jiz like all other ponzis, the [not]Federal [no]Reserve has been doing just such since about, September of 2019, when a liquidity squeeze manifesting in the REPO market AGAIN reared its ugly head. And it has never really been mitigated since. Then wahlah, enter the on-going PLAN/SCAMdemic and opportunity to let the “electronic FIAT DEBT” issuance really rip. Coming up next: “building back better” via the “Green New Deal/Great Reset”, once the PTBs have completed their current covert greatest REAL asset/wealth consolidation and transfer/theft ever which will again probably get disguised by another big-ass “bloody ugly”, perhaps beginning not so “civilly” here in what is now the “NOT so great” USSA, now fully exposed by the blatant election heist!
Flucht in die sachwerte meets get out of Dodge.
FWEEDOM!!!!
And all of this happens during record unemployment and an economic collapse? Sounds legit. Martin Armstrong moonlights as a real estate agent.
There’s nothing worse than car loads of Yankee’s moving South and voting for the same shit that they left .
My take: The EF’s are intentionally crashing the most desirable, historically the most valuable real estate markets in America. “They” turn once beautiful places into garbage so the producers will flee. The producers will happily take losses just to get somewhere they can resume producing. Once the formerly elite areas such as NY and San Fran are decimated, “they” will buy the properties up at pennies on the dollar and begin “clean-up operations”.
Order out of chaos. In this case, real estate. “They” want these areas all to themselves. Does ANYTHING Cuomo or Newsome do make sense, except for the above reason? They are not as stupid as they seem. Intentional destruction for personal profit. Always follow the money.
1 Timothy 6:10 KJB… “For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.”
Spot on… This is exactly how many of the elitists like the scum Soros made billions. They are parasites and unfortunately to many people are willing participants, useful idiots, and do not see they are being used.