Following The Gold Trail

September 16th, 2007|| · No Comments ·

Go where the people are going. Let me amend that: go where the rich are going to retire. That narrows your investment spectrum immediately. There is Hawaii, there is Florida, and there is the Coachella Valley in California, known as the Palm Springs area. Palm Desert is one of nine cities there attracting retirees from as far away as Turkey, Europe and South America. If you swap continents just to retire, clearly money problems are no factor. An uncle of mine always followed the money and he did very well out of it. He was a realtor So, yes, in answer to your question
Palm Desert real estate is a very interesting proposition. I can see why that was recommended to you. I would look into it further. Look at it this way: in 1948 there was no one at all living there to speak of. By 1990, after 40 years of a property boom hastened by the trend toward large-scale property development, especially in California, the population was 23 000 and by 2000 the population doubled. That’s from 23 000 to 46 000 in just a decade, and that’s just Palm Desert. All the other valley towns are growing just as rapidly. It’s not just rich retirees going there, though it should give you a warm glow knowing that Bill Gates has a home in Palm Desert. The region is a major tourism area, a gambling destination, a convention centre, a luxury golfing and shopping experience. Yes, there is no reason to suppose the growth will slow, never mind reverse. Have a look and tell me what you find in Palm Desert. Maybe I’ll make a little investment there too.

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