I'm certainly no Rhodes Scholar. In fact, I had to google "Rhodes Scholar" to see exactly what it is. That doesn't keep me from talking like I know something. Like I'd even heard of Murray Rothbard. The fact is I'm a skimmer, a looker, a listener. In 10K B.C., I'd have been a gatherer. I soak up stuff, come home, wring out, sift through and post.
And as James so aptly pointed out, "I think it is more likely that your own political and philosophical bent is causing a biased interpretation of events." Truer words were never spake: if you have pink Volkswagons on your mind, that's all you see.
I still think the sky is falling. Even so, there are two conditions under which I'd buy a (Costa Rica) property in today's market:
1. Because I'm so poor right now, I'd have to follow the rental rule. That is: if I can buy the house for 5-7x annual rent, I'd buy it. So if my landlord would take $60,000 to $80,000 for this mansion, I'd buy it. Otherwise, it only makes sense for us to rent. IF we want to continue to eat. I mean, we do have a choice. Or,
2. If I found a house I loved, that I could afford, that I was going to enjoy for many years, I would buy it planning to be there for the long term, regardless of the rental rule. Not looking to throw my money away, but security, putting down roots, puttering about MY house… all that is important to me.
Today's lousiest idea is speculation which is buying a property banking on the price going up. A lot of people a lot smarter than me are still speculating. But I wouldn't. You have to ask yourself, "What does she know?" Let's face it, if my advice was so brilliant, WHY AREN'T WE RICH? I've always believed, "The proof is in the pudding." I'm looking around. It seems we are low on pudding.
Being a Rhodes Scholar might help, might not. Happily, we are wicked lucky in love, kids, dogs, moms and location. Who needs pudding?