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Tamar Yonah is one of Israel's most popular English-speaking radio show hosts. She made Aliyah from Southern California and after serving in the Israeli army began a prolific career in radio, including production, news and program development. She was the original creator and producer of 'The Aliyah Show' and still works whenever she can in that field. Tamar is a political activist, wife and mother residing in Judea and Samaria and currently hosts the top-rated shows of The Weekend Edition & The Tamar Yonah Show. Her award winning blog covers current events, religion, politics and anything else that's on her mind.
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Buy Property in Israel, and protect yourself and your life's savings too.
Scenario: You have your life savings in the bank and in stocks and bonds. But what would happen if the dollar all of a sudden devaluates and/or crashes? You would be left with zilch, and it could take a wheelbarrow of that 'paper stuff' you worked so hard for all your life, just to buy a loaf of bread. Remember the Depression of the 1930's? Even if the dollar were to remain stable, how much does your bank pay you each month in interest? However, if you took your money and purchased an apartment with it, not only would you have something solid for all your life's savings, but you'd be raking in perhaps a thousand dollars plus/minus each month into your own bank account from the rent it could garner.
You've worked hard and have saved money, either for your retirement or a rainy day. But are your savings going to save you if times get really bad? I believe, sadly, that the US dollar is going to be very risky to hold onto. Perhaps other currencies around the world as well. However I want to concentrate on the U.S. dollar. Can one be safe holding onto paper money? There is no gold or silver behind the dollar anymore. It is only fiat money today. Paper. Fiat money is defined as: "Currency that a government has declared to be legal tender, despite the fact that it has no intrinsic value and is not backed by reserves..." i.e. gold or silver.
Long ago, the dollar actually had printed on the bottom of the bill:
"IN SILVER PAYABLE TO THE BEARER ON DEMAND" Click here for a photo of it.
Once, you could take your dollar bill, and go to the bank and redeem it for its equivalence in gold or silver. It was first based on Gold and then on Silver. Sadly, now it is based on... pretty much nothing.
First, if you are a Jew, it is a mitzvah to own a home in Israel. Second, you can rent it out and make (for example) a thousand dollars a month. Will your bank pay you $1,000 a month interest on the money you are keeping with them??? I doubt it.
I believe it is better to invest your money in property here. That way if the dollar goes bust, you have SOMETHING for your money, and you can most likely sell your property here later on, for even MORE money than what you bought it for. In Israel, real estate is high, AND it could be making you money every 30 days via rental. There are plenty of property management agencies that will find renters for you and tend to your apartment's needs. You can just sit back and relax and watch the money come in each month it it rented. Seems that logically, it's a win-win situation; You have something solid for your life's savings, AND it is making money for you every month, AND it will probably be going up in value each year. As a perk, if you have property here, you have put a root down into the soil of the Land of Israel, and you are more likely to one day make aliyah since you have something here. Or, if worst comes to worst and you have to flee because of anti-Antisemitism or violence, or danger or you lose your home in some natural disaster, et al, you have a home here waiting for you! Win win all around, no? If the home/apt. you buy here is not your 'dream house', no problem, you can sell it later on, when you are ready to move here to help you buy the one you'd want to live in yourself. Again, real estate in Israel has been going up each year. We are a small country, there is a limited amount of space.
Why am I writing all of this now? Because recently some articles have come out saying that the USA's economy is looking up, and that people can have confidence to buy stocks and save money! When I read articles like these, I think back in history about building false confidence just before a great fall, and a red flag goes up in my mind. I would worry when I have to read optimistic articles that say 'not to worry about the economy' and that it is getting better. Why not buy now, get something for your money, AND MAKE approx. a $1,000 each month that goes into your pocket?! It's a mitzvah as well! ...And we can all use more mitzvahs!
Anyone who wants me to help advise them, and again, I am not an expert, you can skype me and I will (time allowing) speak with you and try to assist you. My skype user name is TAMYON. If you add me, write in your name and why you are contacting me.
For those that would like to listen to the radio show I just did on buying property in Israel, click HERE to listen: http://www.israelnationalnews.com/Radio/News.aspx/5172#.UvDl7z2SxIE
"Tamar explains why she believes it is important to purchase property, and hosts two realestate agents who give their take on it as well. For more affordable homes and property, look to the north and south of the country. Laurie Silverman from Alon Properties at RealEstateNorthIsrael.com shares her experiences with real estate up north. Also, Haredi businessperson, Shia Getter, author of, Everything You Need to Know About Buying Real Estate in Israel comes on the show and talks about property in Jerusalem, and why he believes it is a good investment. He also talks about Haredi interests and how it affects the real estate market. This is an important show with information to strongly consider."