So how many out there believe this trend was inevitable? A rise in unemployment, businesses not willing to hire more staff, increased government borrowing and less tax revenues from public services.
Well, I hate to say, but this is reality for many of us today.
The lights are out and the party is over so to speak.
But, on a more serious note; I think we all saw this coming. Let’s face it, economic growth plays a critical role in society. It gives people the sense that they are getting ahead and are in control of their lives.
Unfortunately, events that have occurred in the past year seem to have stripped away that control we once had. We thought keeping people locked in their homes was the silver bullet. But was it really? These actions have elevated risk and uncertainty. It’s an environment that frankly destroyed the appetite for individuals to invest and open up new businesses. It’s still up for debate whether this will be the right way to deal with this challenge in the future.
In this part of the world the IMF, World Bank and the African Development Bank have stepped up in an effort to boost several economies in the short term. Time will tell whether this will make a difference or not. But, let’s not forget though, that billions Of dollars have already been allocated in developing nations to solve similar challenges. Unfortunately, most of the models that are used to distribute funds are based on assumptions. Assumptions that are not tested, and in the end turn out to be a complete waste of resources. We do hope this time around those resources can get to those that need them the most.
Recent Statistics show that individuals, private companies even governments have burnt through a lot of cash and liquidated assets. Many believe that we have entered into a prolonged period of slow economic growth that’s likely to frustrate citizens around the globe.
And as we move into the future we except to see intensified competition of resources between the rich and poor, private sector and government as well as local and foreign businesses.
A personal view of what could be done to make the best out of this situation.
Please keep in mind that this solution is based entirely on a personal experience and experiment. The results obtained have been as a result of applying advice offered in books and seminars on investing.
I do know of a few close friends and family that have earned passive income quite comfortably even during this challenging time. They have realised the hidden treasure in owning a piece of land or property. I can only wish I had gotten into this sooner. But as the saying goes better late than never. Am all in when it comes to real estate investing, and I hope those that are not in yet, will get into it one day.
We all need a roof over our heads whether we want or not. A home ranks as # 1 on the list of human basic needs which makes real estate a solid investment. Not everyone can afford to own a home but almost everyone can afford to pay rent to their landlord. The cost of getting into this investment has never been any better. I have seen many jump into this opportunity. I think it’s worth every single penny. As Franklin .D. Roosevelt famously said, “Real estate cannot be lost or stolen nor can it be carried away. It’s about the safest investment in the world.”
Some investors purchase a vacant land for immediate development while others buy land with the intention of letting the value grow over time. I found this as the perfect time to buy this piece of land and let the value appreciate over time.