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In the context of a discussion about wealth, its true that the financialization of real estate and runaway values of the greater Silicon Valley were a stroke of
by aorloff 2y ago
In the context of a discussion about wealth, its true that the financialization of real estate and runaway values of the greater Silicon Valley were a stroke of luck, but when talking about building wealth, housing has intrinsic value that I think takes a lot of that kind of SV luck out of the picture.
- toomuchtodo 2y agoHousing value is land value. Did you buy or build in the right location? Luck! Did commercial real estate know WFH post Covid was going to obliterate CRE values? Again, bad luck.
- aorloff 2y agoThis is true, many people got hung out to dry who happened to hold office properties when COVID hit. But the housing could have just housed the family members if times were tight. For at least the first generation, it did. That's intrinsic value, not valuation according to a market.