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I don't know about buying a 'house', but I think owning land is a key component to achieving wealth, provided one buys at the right place and/or time and that o

by craigyk 13y ago

I don't know about buying a 'house', but I think owning land is a key component to achieving wealth, provided one buys at the right place and/or time and that one can also afford to sell it when the time comes. Unlike gold or BTC, land is a limited resource that actually has intrinsic value- especially in countries that grant ownership of resources. Even buying a primary residence is a reasonable path toward wealth if one plans well and is willing to sell and move somewhere cheaper when the time comes.

busterarm 13y ago
Wouldn't it be amazing if wealth were a product of your own labor and not of your ability to stake claims and extract it from other peoples' labor? If wealth from land ownership is all about location and timing, then you have insane advantages like being lucky enough to be born before the next schmuck who wants some land. Come to think of it, if you really wanted to invest in your future generations' future, one of the best investments you can possibly make (albeit risky) is to stake claims on the Moon/Mars/Asteroids/etc. I totally need to rethink my position on Plantary Resources and Deep Space Industries.
VLM 13y ago
"intrinsic value" Intrinsic liability, you mean. My little plot of land comes with a $300/month prop tax liability aka "rent" in addition to the costs of ownership. And of course land comes with unlimited legal liability unless you pay $50/month or so for liability insurance. BTC of course costs nothing to store, although most people who will store it for you would like to skim, and/or there is some fundamental lower limit on the cost of storing/maintaining a wallet. As for gold, you'd be shocked what can be fit into a mere $25 credit union safe deposit box and for the $350/month that my land costs, I could get a safe deposit box big enough to park a motorcycle or scooter in it. In some ways gold is free, in the same way that unless you're a lunatic you have some kind of off site digital backup scheme with flash drives getting rotated monthly or so into a safe deposit box so the empty space could hold some coin. Of course in the same way BTC is free because you've got a backup scheme anyway and a wallet is pretty small. Either are much cheaper than "owning" land.

by craigyk 13y ago

busterarm 13y ago

Wouldn't it be amazing if wealth were a product of your own labor and not of your ability to stake claims and extract it from other peoples' labor? If wealth from land ownership is all about location and timing, then you have insane advantages like being lucky enough to be born before the next schmuck who wants some land. Come to think of it, if you really wanted to invest in your future generations' future, one of the best investments you can possibly make (albeit risky) is to stake claims on the Moon/Mars/Asteroids/etc. I totally need to rethink my position on Plantary Resources and Deep Space Industries.

VLM 13y ago

"intrinsic value" Intrinsic liability, you mean. My little plot of land comes with a $300/month prop tax liability aka "rent" in addition to the costs of ownership. And of course land comes with unlimited legal liability unless you pay $50/month or so for liability insurance. BTC of course costs nothing to store, although most people who will store it for you would like to skim, and/or there is some fundamental lower limit on the cost of storing/maintaining a wallet. As for gold, you'd be shocked what can be fit into a mere $25 credit union safe deposit box and for the $350/month that my land costs, I could get a safe deposit box big enough to park a motorcycle or scooter in it. In some ways gold is free, in the same way that unless you're a lunatic you have some kind of off site digital backup scheme with flash drives getting rotated monthly or so into a safe deposit box so the empty space could hold some coin. Of course in the same way BTC is free because you've got a backup scheme anyway and a wallet is pretty small. Either are much cheaper than "owning" land.