CUPERTINO, Calif. – With the Federal Reserve promising continued Quantitative Easing, Washington jargon for printing money, a local real estate investment expert says physical assets may be the best way to navigate the next four years.
Jerry Garrity, President of First Statewide Realty in Cupertino, says there is always a flight to tangible assets when the value of a currency declines.
“Unfortunately, most people don’t read the news, and even for those who do read the news, they are not necessarily picking up on reality of what the Fed is doing. They are essentially making the dollar worth less with each round of QE. I don’t want to sound alarmist, but if you do that long enough, the dollar will become essentially worthless.”
Garrity says that the reason investors often move their capital to tangible assets like real estate and gold is that these items generally retain their value over time.
“While the price of the dollar may fluctuate wildly, the underlying tangible asset tends to have some stability to it.”
He’s not one to prognosticate on what the future holds for the U.S. economy in the coming year, but his recommendation to be prepared has served him and his clients well through his long career in real estate investing.
“I’ve managed properties for some of Silicon Valley’s most seasoned investors, and there’s one thing the best ones have in common. They hedge against rocky economies by growing their portfolio of real estate assets over time.
About First Statewide Realty
Jerry Garrity’s First Statewide Realty is a seasoned expert in property management whose expertise has been featured in the Wall Street Journal and other publications. His Silicon Valley property management company specializes in managing single family homes, condominiums, townhouses and other investment property. Services are provided for all of Silicon Valley, including San Jose, Sunnyvale, Santa Clara, Campbell, Mountain View, Los Altos, Saratoga, Cupertino, and Los Gatos.
The firm has been in business for over 21 years, and is a member of the Santa Clara County Association of Realtors, Silicon Valley Association of Realtors, National Association of Realtors, California Association of Realtors, Tri-County Apartment Association and National Association of Residential Property Managers.
First Statewide Realty
20045 Stevens Creek Blvd.
Cupertino, CA 95014