One of the world's leading experts in economic cycles and international captial flows, Martin Armstrong has been talking about high-end real estate around the world starting to decline, setting the stage for a crash.
Property values in various global markets such as London, New York, Hong Kong, Sydney, New Zealand and even the Latino capital of Miami which is the main destination of capital flight from South America.
Here is an example:
Hedge fund manager Stanley Druckenmiller bought his Connecticut estate pictured above in 2004 for $23 million. He had it up for sale for $31.5 million. The best offer was $25 million, which he smartly took and ran. The real estate tax on the property is about $154,000 a year, so it looks like a break-even deal after more than a decade.
The conclusion Armstrong draws from these developments is this:
The shift will now turn toward MOVABLE assets as capital departs from the fixed asset class.
The conclusion I draw from this is the following:
Is there any asset that is more easily movable, more convenient, more private and with more appreciation potential than cryptocurrencies such as Bitcoin, Dash and so on?
Once things turn really ugly in the old financial system a rogue wave of really smart big money will rush into digital assets and spark fireworks of new all time highs!
2018 promises to be a spectacular year :)