In my conversations with you, you’re telling me the real estate market is slowing down. That’s not to say there’s no one looking to buy. Demand is still hot in certain places.
One client out in Jackson Hole said all the realtors are looking for bartending jobs. The tech bust might have something to do with it. Higher rates might be in play too. But overall, it could still be a lack of supply.
Your Survival Guy’s been finding some good values with French Chardonnay that aren’t too oaky. One is by the glass at the Clarke Cooke House in Newport, RI. It’s a Castelbeaux, Vin de Pays, FR, for about ten bucks. Cheers. Speaking of cheers. Our go-to wine during the week is from Dry Farms Wine. Every bottle has an alcohol volume of less than 12.5%. Nice and light.
I’ve yet to meet an investor who likes losing money. And yet it never ceases to amaze me how reckless investors (I don’t consider them investors, more like speculators) are with theirs. Here are some words of wisdom: If it sounds too good to be true, don’t forget there’s someone else on the other side of the trade with the exact opposite belief. It’s a zero-sum game.
Investing, on the other hand, is owning a business or company that produces income or dividends. Over time they’ll grow with the economy. Now is the time to save. Now is the time to keep working. Work to save money. Invest to keep it. Liquid alternative investments are hot. Stay away. When I see leverage, borrowed money, and high fees, I run. You should too.
A contact in the construction business tells me entry-level workers can’t be found. Another client just bought a house in Montana not far from where Yellowstone is being filmed. FYI to fans, he said they’re filming the next two seasons. He also said the demand for housing is crazy, and it’s pricing out locals who rent and work in the service industry. In New Hampshire, some restaurants are doing take-out only, and for those dining out, there’s a sign indicating the number of wait staff that night. Going out to dinner may become a thing of the past.
Action Line: In my conversations with you, I’m reminded of our recent trip to Paris. When one waiter approached, he simply said, “Tell me, madame.” That’s how I feel talking with you. You tell me. I’m just the messenger.
P.S. Your Survival Guy is back on the water thanks to Grady White and Jack McMath at Cataumet Boats. Have a safe and happy Fourth with your loved ones. All aboard!
E.J. Smith - Your Survival Guy
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