Social Security Funds To Boost Real Estate?
A writer for Inman News (see links) speculates that the individual savings accounts being discussed for Social Security "account holders" could fuel the home boom. "It could be a huge boom to the real estate industry," a friend commented over coffee this morning. Imagine how attractive it would be to invest Social Security dollars in real estate if people keep reading about the double-digit returns, especially for those who have been earning less than 1 percent on their investment in a money market account, he added".
I can't help but think of the giddy stock market bubble, when every market development was hyped to be in favor of the "new economy". With the government in the deepest financial hole in the history of man, can one reasonably expect to be handed back thousands of dollars? And if housing continues "double-digit returns", who will be able to buy them?