Re:The 9.9 Percent Is the New American Aristocracy
by gshubert17 on Monday May 28, 2018 @02:17PM
(#17173888)
> There are literally 0 people I know who think owning a house is not an investment.
I thought of my house as a "use asset", like a car. It's nice when the house appreciates. But I couldn't sell it and "cash out" if I had to use the proceeds to buy another house. But, as you said, it saved on rental costs.
Re:The 9.9 Percent Is the New American Aristocracy
by Rotten194 on Monday May 28, 2018 @03:35PM
(#17174340)
Owning a house is an intergenerational investment -- your kids can sell it and make a tidy unearned profit on what you spent, or live in it and pocket that amount of money in not having to pay for another living arrangement. It contributes to the high IGE of the US the author was talking about.
Re:The 9.9 Percent Is the New American Aristocracy
by throwawayjava on Tuesday May 29, 2018 @12:04PM
(#17180384)
> You have to get to some truly lofty heights before you find the activist investors.
That was exactly the point the GP was trying to make...
There are literally 0 people I know who think owning a house is not an investment.
If you're trying to make a distinction between income generating assets and assets that don't generate income, you're just digging yourself into a hole - housing doesn't generate income, but it does save cost - namely rental cost. In that sense, it is a better investment because the return is less risky.
> 2. Whatever remaining money that is deployed as capital, is not done so in a way that implies control over their chosen investments. Think "majority shareholder" vs. "just another investor". That's the difference between "controlling capital" and merely having a bit of skin in the game.
That's well and good, but it's just as true for most people above the 10% line as for those below. You have to get to some truly lofty heights before you find the activist investors.