By Catherine Austin Fitts
“Should I buy a home now?” That is a question I hear more often these days, as housing prices improve in North America and on other continents equally rocked by the fall in housing prices since 2006. One one hand, buyers are skittish about taking on more debt, local tax and insurance liabilities to fund an illiquid asset in an environment defined by uncertainty and volatility. On the other hand, real estate can seem more tangible than having money in financial assets. And, of course, the dream of home ownership is with us still despite the pain of recent years.
On Thursday, we will post my interview with Dr. Zinnia Mukherjee, who is a fellow at the American Institute for Economic Research and teaches at Connecticut College. Dr. Mukherjee has an excellent background for our discussion. Well versed in the environmental and financial aspects of places, she focuses on microeconomics – what it all means to you and me. She earned her undergraduate and masters degrees at the University of Calcutta and brings an understanding of global trade and the impact of financial capital flows and costs on our personal risks and choices.
We will be talking about the economics of home ownership – past, present and future – and why I believe that the economics of homeownership are changing in fundamental ways. Bottom line, the opportunity cost of buying, owning and maintaining a home is significant. This is a complex decision that can benefit from revisiting the basics and the changes underway.
In Money & Markets this week I will discuss the events in the last two weeks, with a focus on the latest developments in the precious metals, equities and fixed income markets. I know you have lots of questions – keep posting your questions on the blog or on the webinar by Thursday night!
In Let’s Go to the Movies, I will review Ken Burn and Lynn Novick’s marvelous documentary about architect Frank Lloyd Wright. The creator of many remarkable homes across the United States, Wright demonstrated throughout his career the power of intelligent design to contribute to the health and value of home. Wright’s work underscores one of my favorite sayings – “beauty is necessary for survival!”
You can find the documentary streaming on Netflix, Hulu or Amazon Prime.
Talk to you Thursday!