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“Remember, bubbles happen around things that fundamentally change the way we live,” he said. Ah yes, I remember how beanie babies changed the way we all lived.
by owenversteeg 8y ago
“Remember, bubbles happen around things that fundamentally change the way we live,” he said.
Ah yes, I remember how beanie babies changed the way we all lived. And tulips, of course. And rhodium?
Hmm.
- blake8086 8y agoAnd dot-coms! And real estate! Hmm.
- bduerst 8y agoShips can't ever sink when all you look at are the ones that are still floating.
- carbocation 8y agoThis is a beautiful description of immortal time bias.
- quickthrower2 8y agoReal estate is as old as humanity
- dragontamer 8y agoNo. Its only as old as modern society. The idea of a private citizen owning land was not generally accepted in the medieval age of kings. Only lords and other nobility could own land back then. Technically, the king owned the land, and the Lords were simply stewards of the King... probably indirectly (King -> Count -> Lords) Eventually, real estate could be owned by the common peasants and merchants, but that starts to get into modern capitalist style society. For some details, see this article: https://en.wikipedia.org/wiki/Quia_Emptores https://en.wikipedia.org/wiki/Quia_Emptores
- JumpCrisscross 8y ago> Technically, the king owned the land, and the Lords were simply stewards of the King This varies from culture to culture. Romans owned their land. Egyptians did not.
- kolbe 8y agoI don't remember any innovation around real estate that changed our lives within the past few decades (or millennia even).
- iaw 8y agoI think ~100 years ago they really got into vertical construction but other than that (and possibly central plumbing) your point stands..
- pessimizer 8y agoCDOs they literally turn bad debt good
- ivalm 8y agoThose aren't commodities (unlike tulips, beanie-babies, and crypto).
- tim333 8y agoTulips changed they way some of the Dutch live. They still have 11,000 hectares planted and grow 4.3 billion bulbs per year, 381 years after the so called bubble. I wonder if ETH and TRON will be about in 381 years.