In my experience during the last recession, There was a short overlap between when gold and silver were starting to rise and the housing market was tanking. In May of 2010 Just as we witnessed housing prices bottoming out, Silver and gold started there climb to there all time high's. Housing prices lingered for a short while at the bottom and started to rise. I noticed a small window of about 6 months where peak silver and gold prices and low housing prices over lapped. This is when we bought our home. Although we got a great deal, it will be nothing compared to this next crash. Which actually is the finish of the last.
This was our find, 3/2 on an acre in central Florida.
Look for housing to drop first.
Silver and gold to start there climb a few months after.
We sold our precious metals on the down slope after the peak.
Then made our home purchase just as the rise started.
Knowing what I know now, selling PM's on the up side before the peak would give you the best price chance in the housing market.
Just know that waiting for the peaks was our indicator at the time. And it made it easier to spot and time. Keep in mind this was almost 2 years after the greatest recession. Patience is key! Wait for it... Wait for it... It will come...
I did it and will do it again.
Congrats!
Not many were in the position to take advantage of the situation.
I have a post suggesting a Silver and Gold Community here on Steemit. Please consider adding your thoughts, if interested: https://steemit.com/silver/@hgmsilvergold/silver-and-gold-community
I wish you great success and will take a gander at your wares. ;)
thanks, appreciated.
Good timing! I feel bad for those that panicked, and sold late 2008.
This is why I'm telling my story. ;)
Thanks for your reply!
ps: I watch everyone of your video's! Awesome work!
I am considering of selling my home and go renting, so that I can buy bitcoin when it is at 1000usd in a year or so. 1 or 2 years later I can then buy 10 homes like it.
Just keep in mind that the powers that be are already passing laws to control crypto currencies. I wish you luck, but I can't say when the timing with crypto's would be, as there is no precedence to go by. I learned when to make my move from the 1998 crash, and had to wait over 10 years to finally make my move. I was hoping this info would save people from having to wait like I had too...
@sanction Great advice. My husband and I are currently looking for some land with a decent house on it ( Yes, I met to say it that way) . I keep seeing warning alarms everywhere about a coming housing bubble crises and waiting out until it hits. The prices in the housing market is riduculas. Just need to be patient.
Absolutely nyozekii, The bubble you see now is bigger then the 2008 bubble. When it pops, You will see lots of for sale signs, people will start to loose there homes, Bank deals will grow, and then the prices will start to fall. It doesn't happen over night. At some point there after, PM's will start to climb and can offer a quick increase in liquidity for the purchase of a highly discounted home. Good luck, and keep patient. ;)
All good things come to those who wait...
Personally, I'll be looking for a new SUV purchase for my wife this go around. As the auto industry is also in a huge bubble. Same process as with buying a home, only this might happen sooner then housing. It's hard to say for sure, but the last time I remember the dealerships closing down one after another just before the Government bailout of General Motors. Again this go around is much bigger then 2008 and there will be no more bailouts... ;) I'll make a post and try to clarify the timing for both.
Good luck!
Nice post! That's what I'm looking to do next time.
Time is near. Get your self positioned to take advantage of this once in world history event.
The contrarian argument is that life is too short, and just buy the home to enjoy life. Just don't go too big and you will be ok.
Yes, your home is for living not making profit.
Congratulations @sanction! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Do not miss the last post from @steemitboard:
Vote for @Steemitboard as a witness to get one more award and increased upvotes!