703
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 20 Aug 2023
703 points (96.8% liked)
Asklemmy
43855 readers
1657 users here now
A loosely moderated place to ask open-ended questions
Search asklemmy ๐
If your post meets the following criteria, it's welcome here!
- Open-ended question
- Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
- Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
- Not ad nauseam inducing: please make sure it is a question that would be new to most members
- An actual topic of discussion
Looking for support?
Looking for a community?
- Lemmyverse: community search
- sub.rehab: maps old subreddits to fediverse options, marks official as such
- !lemmy411@lemmy.ca: a community for finding communities
~Icon~ ~by~ ~@Double_A@discuss.tchncs.de~
founded 5 years ago
MODERATORS
You make good points, and it is a perverse line of thinking. However I do think that homes and land are the only real investments we can make. Not in a sense of trying to make a profit on it, but as something to put our money into.
Houses have not been an appreciating asset since 2008, and the only way to make money off of them in the current market is the buy massive quantities and hold them for decades until inflation does its thing
What? This is simply not true. Yes, there was a dip in 2008, but the real estate market has since recovered and we are already well beyond what houses were valued at on average in 2008 and this time there's no subprime lending bubble.
Buying real estate is still the #1 way for regular people to passively build wealth in America. It's just getting a lot harder for average people who are not already on the ladder to take the first step due to prohibitively high costs, taxes, and interest rates.