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> Between 1996 and 2014 the richest 1% fell further behind the national average in the percentage of their spending dedicated to bling. Do you count their home
by humanrebar 9y ago
> Between 1996 and 2014 the richest 1% fell further behind the national average in the percentage of their spending dedicated to bling.
Do you count their home(s)? Conspicuous consumption also looks like:
- having homes in particular neighborhoods
- certain kinds of upgrades to the homes (elaborate pools, media rooms)
- extra homes (Paris, Manhattan, in the mountains, on the beach)
- vanderZwan 9y agoReal estate is usually considered an investment, is it not?
- dx034 9y agoOnly if you buy it for value appreciation and/or income. If you buy a second home in an area that you like instead of one with high potential upside it's not an investment. I would guess that few vacation homes are bought for the return they generate. If you want to invest in real estate, you'd rather buy homes in large cities.