If you want to be rich in 20 years.

[Beet]

Go to Baghdad, purchase real estate.

Over the next two decades oil prices will be significantly higher than the period 1985-2005. That means whomever is producing oil will get very rich. Iraq has one of the world's highest proven reserves, second only to Saudi Arabia. Furthermore, these reserves are located in areas that are relatively cheap to extract, unlike the oil that is now being explored for in other parts of the world. Political problems have kept Iraq from fully exploiting its reserves since 1979.

That is now changing. Iraq's oil production is projected to rise from 2 million to 12 million barrels a day within the decade. With the US undoubtedly interested in protecting its 'investment', they will make sure no nationalizing or 'crazy' government comes to power in Iraq nor does it descend into civil war. US troops will continue to keep a close eye just as they do on the Saudi peninsula. The recipe is for political stability in the medium to long term.

All of this adds up to one thing: the mother of all economic booms, centered on the land between the Tigris and Euphrates Rivers, by 2030. Go in and buy now, if you have the money. In 20 years you will be the next Donald Trump, I guarantee it.

[dead0man]

Yeah, nothing at all could go wrong with this plan


(what color is sarcam supposed to be again?)

[Frink]

Why not just buy oil futures instead and bet on OPEC's ability to keep prices high?

[dead0man]

Looks like it's selling at $92.44 (and dropping) for a barrel of oil in Dec 2015 right now....a whopping $5 more than currently.

[Frink]

Looks like it's selling at $92.44 (and dropping) for a barrel of oil in Dec 2015 right now....a whopping $5 more than currently.

There's money to be made there..

[dead0man]

Then make it.

[Frink]

Then make it.

As a broke college student oil futures aren't usually first on the shopping list.

[dead0man]

Aye, I feel ya.  (plus it's probably not all that great of an investment or the people with money would be investing in it and making the price higher)

[k-onmmunist]

Lol, I love how you consider oil nationalization 'crazy'

[opebo]

Are non-citizens allowed to own Iraqi real estate?  Because we aren't allowed to do so in Thailand.

[Beet]

The Iraqi government has approved a bill to amend the investment law to allow foreign investors to buy state-owned, public and private properties in what is seen as a move that could create a new demand for real estate in the once war-torn country.

An official spokesman for the government said that the bill is aimed at creating a better environment for investments in the country and will put foreign investors in the same position as Iraqi investors.

‘The bill will amend investment law number 13 of 2006. Foreign investors will be allowed to own state, public, and private properties, according to a special payment system for the purpose of housing projects,’ said Ali al-Dabbagh of the Cabinet Office.

http://www.frc-iraq.com/wordpress/

Under Saddam non residents of Baghdad were not allowed to purchase real estate. This artificially lowered prices and therefore reduced supply. Currently there is a big shortage of real estate in Baghdad because of this and also because of returning refugees.

However, we may have already missed the real estate boom. Prices are up 1,000 percent in some places since the start of the "surge".

... Basra may be more promising. I found a 3750 square feet building in supposedly a good part of town for about $230,000. It may also be safer.

[memphis]

Great. Buy a bunch of land that will be seized by the next iron-fisted dictator. Sounds awesome.

[angus]

   
If you want to be rich in 20 years...

Then just become a policy maker.

http://www.washingtonpost.com/wp-dyn/content/article/2010/11/17/AR2010111704025.html?hpid=topnews

[Beet]

   
If you want to be rich in 20 years...

Then just become a policy maker.

http://www.washingtonpost.com/wp-dyn/content/article/2010/11/17/AR2010111704025.html?hpid=topnews

They used a measurement date of December 2008 to December 2009. Average US household net worth also increased significantly over that time period. A more honest approach would have been to start at the time NBER says the recession started and go until the June 2009 bottom.

[Torie]

How reliable is the court system over there again? 

[tpfkaw]

Great. Buy a bunch of land that will be seized by the next iron-fisted dictator. Sounds awesome.