You can buy a house in Quito right now for $2,500. See why Colonial property is rising now.
Our friend who is researching Quito property for us found a downtown house on one acre, with a view for $2,500. Here is what he wrote: “Found a place today that is about an acre. Has a 1 room house and a view of the Old City to kill for, and they want $2500. You have to walk up 122 steps to get to it, but that is cheap.”
This is the third lesson in the business and investing course that shows why colonial property, nostalgia and old time values have extra appeal in this day and age. This knowledge can help you improve your business and investing. I have started a new business, http://www.blueridgecrafts.com and this course shares philosophies on business investing and marketing and we examine the businesses to understand how these philosophies have been incorporated at http://www.blueridgecrafts.com. So this course is not theory, but shows how a business is actually using them now. If you have not read lessons one and two, they are at lesson one and lesson two.
We have seen to date how eras and Maslow's hierarchy of needs leads us to look at the past through rose colored glasses. As the global economy grows we can see nostalgia working in the market place all over the world.
England like the U.S., for example, has been going through a tough economic time and this has spawned an entire industry called “School Disco” has swept the UK. Singers from the 80s are suddenly back in demand. Why? Graduates from the 80s have seen their job market and times turn tough so they have started looking back to the good old times!
We can see Nostalgia is creeping into the U.S. market as well. For example one catalogue company is mailing huge amounts of the Soviet Collection, http://www.sovietski.com a glossy 56 page, four color collection of stuff made in Russia (you can buy a genuine Soviet spacesuit for $17,500). Why the attention to this era? Apparently times are so bad that even the cold war era seems like a good old time.
One reader wrote to me:
"Gary, I have thousands of styles in my business and am well known by
wholesalers for having many old and nostalgic styles of jewelry. Sales to
wholesalers and stores are good but sales at our own in-store displays,
shows and stores are poor. What seems to be happening is that the customers
are spending fewer total dollars and are buying things which are cheaper
and which remind them of better times. We sell more ring styles which were
popular in the 1960's and 1970's to the late teens and early twenties group
than to their parents or anyone in between."
So one way to profit from this fact is to own things (business-investments-real estate-etc.) related to nostalgia. We'll look at another interesting aspect of human nature and how it attracts buyers to why colonial property, nostalgia and old time values in tomorrow's lesson.
Until then may all your nostalgia be good.