4 ms·
>extremely wealthy, by definition, because of their property ownership That's not true today and probably has never been true
by intrasight 2y ago
>extremely wealthy, by definition, because of their property ownership
That's not true today and probably has never been true
- scoofy 2y agoHomes today in SF are worth about $1.5M. That's a non-trivial net worth when you actually look at American net worth by percentile.
- intrasight 2y agoI agree it's non-trivial wealth. But it is not a passive asset. Unlike most forms of wealth a) you pay taxes on it and b) it requires constant upkeep as nature is trying to destroy your wealth. $1.5 m would classify you as extremely wealthy 100 years ago but today it would require an order of magnitude more to be in that class.