The further north buyers are drawn, the cheaper the real estate becomes.
Image: Mauritius
Asset manager Reinhard Panse is convinced: stocks are more crisis-proof than houses. That also has to do with the preferences of politicians, he says in an interview.
Mr. Panse, there is interest again. Is this good news for savers?
Anyone who believes this has not understood the context. The inflation rate in Germany was 6.4 percent in June. This means that the money in the savings account loses value every month. Of course, there are banks that are now paying interest rates of two or three percent again, which may sound good after years of zero or negative interest rates. But in real terms, i.e. after deducting inflation, savers lose more than they did in the days of zero interest rates, because inflation was not so high then. Anyone who does not see this is subject to the so-called monetary illusion, as economists call it. Relying on the savings account alone makes no sense at all with current interest and inflation rates. It doesn’t work without shares.
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