Not only investment but also as a safe holding of value or shadow banking unit of account. Once you get enough money there's no safe place to keep it. While b

Not only investment but also as a safe holding of value or shadow banking unit of account. Once you get enough money there's no safe place to keep it. While banks are relatively low friction, real estate ownership is like an account with the state, "guaranteed" by our attachment to the structure of our society and the government's "monopoly" on legitimate violence.