During times of crises, gold bullion has historically shone in international markets. In today’s economy however, there has been a noticeable shift in strategies. According to the Chairman of BlackRock Inc. “Gold has lost its luster and there’s other mechanisms in which you can store wealth that are inflation-adjusted.”
Lawerence D. Fink, head of the world’s biggest asset manager, states his take on acquiring and building wealth. “The two greatest stores of wealth internationally today is contemporary art….. And I don’t mean that as a joke, I mean that as a serious asset class,” said Fink. “And two, the other store of wealth today is apartments in Manhattan, apartments in Vancouver, in London.”
With the average home price in Greater Vancouver reaching $891,652 in March of this year, the world’s top money manager has confirmed what foreign investors and Vancouverites have known for years. Vancouver is one of the best cities to invest in real estate; the housing market is hot, in demand and shows no signs of cooling off.
Source: The Financial Post
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