Updated Economic Forcast. April/25/09.
At this moment Margarita is experiencing the largest boom in real estate sales ever. Now this is due to a few different factors. One being Caracas has a very high violent crime rate and other parts of the mainland as well, and the police can't keep up. But here is an island and the police have no problem keeping crime to a minimum. Now factor in Venezuela is a huge market for business, meaning lots of business takes place here and is based here. Some of the people on the mainland will move out of the country all together. But the other the ones that have to be here for their work or business are moving to the only safe spot in Venezuela, Margarita island. A huge wave of Venezuelans are buying up the real estate here and moving in.
Then on the other end what we are witnessing in the United States is the people are being robbed by the government and the banks. To make matters worse the banks have so many foreclosed homes that they are holding back on even listing them, this is called the shadow inventory. Now there are 600,000 of them, with the release of these onto the market home prices will drop 20% to 30% more percent. All signs point to a total economic collapse of the United States.
More of the same in much of Europe too.
These people now are starting to get desperate to get out before their home and money are worth nothing. So what I'm saying is people from the U.S. and Europe and Canada are coming as well.
So where do we find ourselves, with a flood coming from the mainland and a good bit coming from other places around the globe; while the other countries are going to suffer, Margarita island should not. It will simply be propelled right through this economic crisis by people moving here. The more they come the more the price goes up, so while everything around the globe will be going down in value Margarita will be going up more then ever.
Yes there might be some other spots that will experience similar growth statistics as Margarita but I do not know them and there are not many. But I do believe that Margarita is the best spot to be in the world.
Nov/23/08.
Well, with the downturn of the U.S. economy come a new wave of Americans and Europeans to the island. With real estate in the States falling of a cliff along with jobs and the stock markets, I think its safe to say we are now hitting a deep recession that seems like it will never end, the fed asking for another stimulis package to try to keep their heads above the water, and the bailout's being the largest form of class warfare committed in history. people are starting to see the light and say they have had enough.
The theory that the U.S. is the best place in the world to be is slowly fading away. Where people were looking for their place in the sun to retire, like Florida, people are starting to look outside there favorite country and finding there is life outside the USA, and a great one at that, there is still certain spots on the globe that are not being affected by the fall of unregulated free market capitalism that so many countries were dragged into by the elites.
Here on Margarita Island property values are rising at record rates. Unemployment at a record low, and energy prices still very low. Gas is still right around 5 or 6 cents a gallon. Its starting to seem like the better option over Florida and the other retirement hubs around the States.
I'm going to keep this one short as the message should be very apparent by now and if not your either blind,,in denial, or profiting off of the recession that is starting to occur in so many countries.
p.s. and I hope you're not one those folks that thinks 5 or 10 trillion dollars of debt,is going to change with the change of a president, and I encourage people to do some research on your own to see how damaging this much debt will really be to peoples lives as they know it. The damage has been done.
Thanks for listening,
Russell Wooldridge