3 ms·
Real estate includes land and structures. There's too much overlooked survivor bias with "I wish I owned real estate..." retrospectives. What people are really
by caminante 11mo ago
Real estate includes land and structures.
There's too much overlooked survivor bias with "I wish I owned real estate..." retrospectives. What people are really saying is that they wish they had speculated, but that's no different than "I wish I owned [NVDA]..."
Take homes values. On a real$ basis, "home prices show a strong tendency to return to their 1890 level[s]" [0].
1. People just move if things get expensive. Urban land area is only 2.6% of total US.
2. Tech improvements unlock cheaper and more durable homes.
What Jack Ma's doing is a completely different level of personal estate management and a flight to safety.
[0] https://en.wikipedia.org/wiki/Case%E2%80%93Shiller_index#Economic_implications https://en.wikipedia.org/wiki/Case%E2%80%93Shiller_index#Eco...