Doubling your money in 5 years
Want to turn R500 000 into R1m in 5 years? Property - particularly affordable housing - is the place to be.
That's according to those who are ploughing big money into bricks and mortar, like property developers. But even life assurers, who have an interest in promoting other asset classes and investments, are seeing the returns to be had in property.
People with a vested interest in prices going up are saying prices will go up? Who would've guessed.
As I asked in the comments section of that article:
Are salaries going to double in 5 years time as well? Or will those entering the market then (todays 17-20 year olds) be straight out of luck and destined to rent forever?
Somehow I doubt it.
Meanwhile: "South Africa's net savings rate is currently below zero, making the country even more dependent on foreign flows to fund economic growth."
1 comment:
Yes you are right. Those numbers are bull. Where do they suck "double you money in 5 years" from? Any idiot can see that is patent sh(i)t. Those days of doubling your money in 5 years are gone. Never to be repeated. Well at least not until the next generation has forgotten about the rout that is about to start.
Problem is, even if you don't buy at the current ridiculous prices and avoid getting shafted directly, we're all going to get it up the bum without vaseline due to the general economic effect of this housing bubble deflating. And this is a global phenomenon happening in every major country in the world.
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