As said before, one of the worst investments is condominium ownership, more to the point – purchasing a unit in an older condo building or one that is badly built, or worse – not situated in a good location.
Why ? Depreciation. Buildings always over time depreciate in value, while land appreciates. [Not always, but hopefully so]. The older a condo building gets, the more its needs repairs, maintenance costs are increasing, and eventually large projects need to be done to the building. Most financial operations – unless massive increases in owners’ fees are practiced – do not have sufficient funds to pay for large construction projects. That’s where SPECIAL LEVIES come in. The money collected cannot appreciate in those accounts. Especially now, with interest rates being so low. In addition, more condo corporations than not are likely to mishandle funds (using money for projects that are not necessary, while others are neglected.)
In summary: Unless an investment into a condominium is purely based on speculation (quick buy, quick sell in a hot market), owning and living at length in a condo can become costly.
Whether an investment turns out good or bad is purely dependent on the current economy, situation, location. [Of course, one can always ‘wait it out’ – “don’t wait too long and pass away over it, though”.]. Almost seems, that good investments – now and for a long while into the future – are DONATIONS, DONATIONS – mostly online.
I thought, I saw it all, but there is daily some other scheme popping up of how to sift money from unsuspecting media users. What we call : “auf die Tränendrüsen drücken” – meaning: During bad times, getting worse by the minute, develop a website – or use a tech to write one up for you or buy one ready made – and invent some event that could make users cry hot tears – and collect money through your website. NOW IS THE TIME, Folks !