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Does anybody know here when people started to think of their home as an "investment"? I mean, regular people, if that makes sense, ordinary families and such.
by trgn 10y ago
Does anybody know here when people started to think of their home as an "investment"? I mean, regular people, if that makes sense, ordinary families and such.
I feel like it requires somewhat of an intellectual leap to see home ownership as a form of investment.
- allthetime 10y agoWhen people started getting rich off of their homes. I grew up in Vancouver, BC and when you suddenly see a $500,000 home sell for $2,000,000 a few years later, real estate starts to look like a pretty good investment.
- c-smile 10y agoBut if you happened to have home in Richmond, BC, Canada that is in average 2-4 meters below sea level ... surrounded by those toy-dykes ... Just wait for flooding / earthquake to happen. Wondering what those naive Chinese investors would do. Just for the information about Richmond, BC: 10,000 houses are investment properties (stay empty) in the city of 160,000 residents. If to assume that each house is a living place for at least 4 people then it means 25% percent of its population has gone somewhere. 40,000 of Canadians were forced to live somewhere else, down in US presumably.