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> In reality they haven't gained anything because every house is $800k and you still need somewhere to live so you still only own one housing unit of wealth. T
by carlosjobim 2y ago
> In reality they haven't gained anything because every house is $800k and you still need somewhere to live so you still only own one housing unit of wealth.
They can borrow money against the extra value of their house. They don't need to move out. That's what everybody in the landed gentry has been doing for the past two decades.
- vundercind 2y agoYou can also sell that house and buy a very nice ranch (when you’re old, you won’t want stairs) somewhere that isn’t even a middle-of-nowhere shiathole for half the price. Pocket the rest. That is why the gains really are actual, useful money for lots of people.