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Steps to being a millionaire next door: 1. buy a house in major metro in 1985 when they're plentiful. 2. don't go broke and keep a job if needed. 3. stop any
by vineyardmike 5y ago
Steps to being a millionaire next door:
1. buy a house in major metro in 1985 when they're plentiful.
2. don't go broke and keep a job if needed.
3. stop anyone else from building more homes in town.
4. profit!
- fleddr 5y ago2. is easy, job qualification back then is to have a pulse.
- gruez 5y agoYou can just generalize it to: 1. buy [asset] they're plentiful. 2. don't go broke and keep a job if needed. 3. wait for [asset] to appreciate 4. profit!
- lotsofpulp 5y agoIt is the “buy asset on margin without having to worry about margin calls” with special incentives and protections from government that makes housing special.
- vineyardmike 5y agoalso the fact you can legislate away (via zoning) access to more housing in a way that is hard for the market to correct compared to exchange traded assets