Usernameblankface@lemmy.world to Ask Lemmy@lemmy.world · 10 days agowhat advice was great when you first heard it, but has aged like milk since then?message-squaremessage-square286fedilinkarrow-up1175arrow-down13
arrow-up1172arrow-down1message-squarewhat advice was great when you first heard it, but has aged like milk since then?Usernameblankface@lemmy.world to Ask Lemmy@lemmy.world · 10 days agomessage-square286fedilink
minus-squareGreenKnight23@lemmy.worldlinkfedilinkarrow-up4arrow-down9·9 days agohe was a terrible teacher. the wealthy have always considered real estate to be a liability that requires constant upkeep. they are money pits. this is why they truly own nothing but physical assets(gold, paintings,etc) and leverage any liquidity on acquiring assets.
minus-squareDuamerthrax@lemmy.worldlinkfedilinkarrow-up2·8 days agoThe wealthy are buying up properties either to rent out or if they’re Chinese, to move their wealth to places their government can’t take it from. They absolutely own propriety, but not with the intent to flip.
minus-squareGreenKnight23@lemmy.worldlinkfedilinkarrow-up1·8 days agoproperties yes, but homes are not investments.
he was a terrible teacher.
the wealthy have always considered real estate to be a liability that requires constant upkeep. they are money pits.
this is why they truly own nothing but physical assets(gold, paintings,etc) and leverage any liquidity on acquiring assets.
The wealthy are buying up properties either to rent out or if they’re Chinese, to move their wealth to places their government can’t take it from. They absolutely own propriety, but not with the intent to flip.
properties yes, but homes are not investments.