As gold continues to drop below 1300 this morning, let’s consider a plight faced by our friends in Australia: Would you choose property or gold? In the face of slowing wage growth and exploding property prices, some enterprising Australian fund-raiser found the middle ground. Buy a hot property and sell lottery tickets for it. You don’t hear gold news like this every day, to say the least.
This way, people who probably could’t afford the property could have a chance at owning it for the price of a lottery ticket. Brilliant, simply brilliant – addresses two problems with a solution that benefits a third party (hopefully a charity). Then, to sweeten the deal even further, give the winner their choice of the property or an equivalent amount in gold. Yes you read that right, gold. Such a choice.
This Gold Enthusiast would choose the property option because it comes with $250,000 in gold, so it gives one diversification. In the short term property prices will probably continue up, as there is no sign of their abating yet. So enjoy the property for 3 months or so, then sell it and buy a more affordable place, or invest the money if you already had a nice flat. And hang on to the gold. What would you do?
Read today’s featured article, consider your options, and you might be tempted to buy lottery tickets in Australia. (Note: The author has no affiliation with the publisher of today’s featured article – though we like the way they think.)
Related: Here’s How the Dollar is Keeping Gold Down.