Vancouver condo ‘better investment than gold’

The World’s biggest asset manager Laurence D. Fink says that buying a condo in Vancouver is a better investment than buying gold bullion.

Speaking at a conference in Asia on Tuesday the Blackrock Inc. chairman said that historically gold “was a great instrument for storing of wealth” but that it has lost some of its lustre and there were other ways to store your wealth that are inflation-adjusted.

He pointed to apartments in New York, London and Vancouver as being better alternatives; just behind contemporary art. 
 

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COMMENTS

  • by Larry 2015-04-22 11:57:45 AM

    Mister Fink my also suggest that realestate and art are better investments than coal at this time. Coal price per ton in 2001 was $ 265. Per ton it's now at 105. Per ton. No return at all. So ask yourself if you wish to buy at the highs or to buy at the lows. If Fink is all in at the highs, what will his future returns be?

  • by judy 2015-04-22 1:44:05 PM

    Really, might be a good time for Santa to stock up on coal for all the "financial experts"!

  • by Murphy Costello Macdonald Realty Ltd. 2015-04-22 6:28:22 PM

    If one were to scan the recent sales on Vancouver Real Estate Boards MLS hot sheet of townhouses, houses and apartments on April 21, 2015 Vancouver West, one would find the returns vary upon when the property was purchased but over the past 15 years the compounded annual rate of return has varied. The sample I took was random and compounded annual return ranged from negative.8% to a high of 11.7% with the majority around 2%.

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