4 ms·
From people I know: they aren’t aware of / comfortable with traditional financial instruments, so they just buy houses and have the rest in a savings account.
by Esophagus4 5mo ago
From people I know: they aren’t aware of / comfortable with traditional financial instruments, so they just buy houses and have the rest in a savings account.
Their houses aren’t even “investments” to them, they’re lifestyle properties that also may increase in value.
- sidewndr46 5mo agoThis, 100x over. You invest 1 million USD in a house. The house loses 90% of it's value. You still own the house. You can live in it, hopefully you get some benefit from the investment, even if it has no market value. You invest 1 million USD in the stock market. It loses 90% of it's value. You basically have nothing but a tax write off on future gains.
- Esophagus4 5mo agoBut at least with owning stocks, I can vote in a bunch of proxy things every so often… which will keep me busy so I don’t have to think about all the money I lost :) I guess the housing equivalent would be an HOA, but honestly I would rather lose 90% of my money than sit through an HOA meeting…
- sidewndr46 5mo agoI'm guessing this is a joke, but my advice would be not to purchase property subject to the tyranny of an HOA
- Esophagus4 5mo agoYes, just having fun :)