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Because not everyone can come up with 50k to put 5% down on something that wont start printing you money for 10 years. 4/10 americans can’t come up with $400.
by wasdfff 7y ago
Because not everyone can come up with 50k to put 5% down on something that wont start printing you money for 10 years. 4/10 americans can’t come up with $400.
But if you can afford it there is no better investment. Practically no home in LA county lost money over an arbitrary 10 year period. The problem is the source of these profits is from squeezing middle and working class renters absolutely dry.
- nf8nnfufuu 7y agoYou could pool resources, and start with smaller investments. Personally I don't believe it is really so easy. But that is the narrative of the leeching landlords.
- kd0amg 7y agoThe claim was that being the owner of high-priced land is easy, not that becoming the owner of high-priced land is easy. Your question is essentially asking why people don't decide to just time the market successfully or inherit valuable estates.
- nf8nnfufuu 7y agoBut that is the point - it was not easy to become owner of those high-priced lands, so maybe it is not fair to simply describe it as leeching and parasitic. People took risks to get there. In the same vein, would you all say people who earn money in the stock market by investing in the right things are just leeches and parasites? When do people deserve anything? Just wondering how deep the socialist attitude runs.
- kd0amg 7y agoThey generally didn't just decide to become wealthy. They got lucky about price movement.
- nf8nnfufuu 7y agoThey got lucky, by taking risks. People who don't take risks want to get their share in the winnings, but not their share in the losses. So investing in something is stupid, because if you are successful you don't deserve it? When is anything deserved?