Ask Lemmy
A Fediverse community for open-ended, thought provoking questions
Rules: (interactive)
1) Be nice and; have fun
Doxxing, trolling, sealioning, racism, and toxicity are not welcomed in AskLemmy. Remember what your mother said: if you can't say something nice, don't say anything at all. In addition, the site-wide Lemmy.world terms of service also apply here. Please familiarize yourself with them
2) All posts must end with a '?'
This is sort of like Jeopardy. Please phrase all post titles in the form of a proper question ending with ?
3) No spam
Please do not flood the community with nonsense. Actual suspected spammers will be banned on site. No astroturfing.
4) NSFW is okay, within reason
Just remember to tag posts with either a content warning or a [NSFW] tag. Overtly sexual posts are not allowed, please direct them to either !asklemmyafterdark@lemmy.world or !asklemmynsfw@lemmynsfw.com.
NSFW comments should be restricted to posts tagged [NSFW].
5) This is not a support community.
It is not a place for 'how do I?', type questions.
If you have any questions regarding the site itself or would like to report a community, please direct them to Lemmy.world Support or email info@lemmy.world. For other questions check our partnered communities list, or use the search function.
6) No US Politics.
Please don't post about current US Politics. If you need to do this, try !politicaldiscussion@lemmy.world or !askusa@discuss.online
Reminder: The terms of service apply here too.
Partnered Communities:
Logo design credit goes to: tubbadu
view the rest of the comments
~2004. My highschool civics teacher told the class that real estate was always a good investment because it only went up. I didn't really trust him at the time though.
Real estate can be a good investment, even pre 2008 crash. What can be dangerous is over leveraging. A primary residence isn't really an investment, still worth buying though.
He was just echoing the same sentiment lead to all those house flippers. He was a wealth of conservative BS and that was just one of his thinly veiled prosperity gospel moments.
I mean, if you had money at the time and bought a house in one of the larger cities or their suburbs, you would probably be loaded by now, even though you would regret it for about 5 years after the crash
You have to be loaded to be loaded? Got it.
This "teacher" also would complain about wellfare queens who had children just to claim more benefits, that the best thing that could happen to a country is to be invaded by the US because they'll rebuild afterwards and that every Union but teacher's Unions were obsolete today, among other things.
he was a terrible teacher.
the wealthy have always considered real estate to be a liability that requires constant upkeep. they are money pits.
this is why they truly own nothing but physical assets(gold, paintings,etc) and leverage any liquidity on acquiring assets.
The wealthy are buying up properties either to rent out or if they're Chinese, to move their wealth to places their government can't take it from. They absolutely own propriety, but not with the intent to flip.
properties yes, but homes are not investments.