Hi all,
My family owns an apartment in Brooklyn that was bought just over two years ago. Value has gone up probably by 300k (purchased at 440). It's a small three bedroom in a, I suppose, gentrifying neighborhood by the park and subway. I live there and pay the mortgage and its 'mine' by common familial understanding, but I think of it as a family asset.
There hasn't been much of a long term plan besides holding it for the foreseeable future. Now that the election makes the future way more uncertain, I'm wondering, should we think about selling?
I know the stock market will tank so maybe having a diverser asset mix and keeping the real estate makes the most sense, I'm just worried that this will turn out the be a dictatorship. I guess property values are still really high in places like Beijing where the government is pretty controlling. So does that mean holding property makes sense?
I think I am just wary of being tied down to a country that potentially is going to hell in a hand basket, but I can't tell financially what the better bet is. Just wondering what others perspective is.