Doug Casey picks Argentina, Uruguay and Chile as the places to be. We've got the first two covered in Privada.

International Speculator sits down with global investor Doug Casey for a candid assessment of the global real estate market status quo and prospects for future growth and appreciation. The U.S. is definitely not high on Casey’s list, where he predicts the average American’s standard of living “will drop significantly” in the coming years…if it hasn’t already.

And while he has personally had good timing with investments in Spain and Hong Kong, he’s not very bullish on Europe, Central Asia, Africa or the Middle East for reasons ranging from overvaluation to “voracious” governments to shifting demographics.

So what options does that leave a real estate investing globetrotter in today’s environment? “South America,” says Casey, “I think it’s going to have its day in the sun. I think Argentina, Chile, and Uruguay are the places to be in South America. Brazil has gotten too expensive. Bolivia and Paraguay are too screwed up.

I like the Southern Cone countries, and among them, for reasons we have discussed at length in the International Speculator, I think Argentina offers the best speculative opportunities.“ And Casey finishes the interview with a more targeted plug for Argentina and Uruguay based on his own observations: “I see a lot of European immigration headed to Argentina. Europeans that come to Argentina, or Uruguay, for that matter, are going to realize that real estate costs a tenth of what it does in Europe. They will realize that this is the place to be for real estate, and lifestyle in general.”

For more information about real estate and other investment opportunities in Argentina and Uruguay, download the new issue of InvestBA Privada.