Jonathan J Miller, Columnist

Invest in a Painting, Not a Condo

Vintage cars and art outperform.

May 1, 2015 at 4:15 PM UTC

Jonathan Miller writes about the housing economy and other aspects of real estate. He began a real estate blog, the Matrix, in 2005, and has written a column for Curbed.com. He is co-founder of Miller Samuel, a residential real estate appraisal company, and the commercial valuation firm Miller Cicero.

A new master?
Photographer: Timothy A. Clary/AFP/Getty Images

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A couple of weeks ago, Laurence Fink, the chief executive officer of BlackRock Inc., observed that "the two greatest stores of wealth internationally today is contemporary art … and apartments in Manhattan, apartments in Vancouver, in London.”

Ever since the start of the financial crisis, wealthy investors around the world have sought out a variety of assets in a risk-averse, low-interest-rate environment. Collectibles such as art and vintage cars, as well as gold, have been particular favorites. Lavish new condos in tall towers and large single-family residences have also have been the beneficiaries of investor efforts to find a secure place to stash money.