Priced out of home ownership – 'It makes me want to throw up'

Re:Priced out of home ownership – 'It makes me want to throw... by SCM-Enthusiast on Thursday May 30, 2024 @11:32AM (#40524905)

A single peice of land may or may not appreciate. but a diversified portfoilio of land will always appreciate if the last 10,000 years has anything to say about it.

The rockefellers and other "Old Money Family's" have the three rules to building multi-generational wealth. Land, Art and Gold.

Even for detroit, land prices have only increased since the 80's[0] and over long time horizons, i'm sure will be back in line with other "Single peice land bets".

[0] https://fred.stlouisfed.org/series/ATNHPIUS19804Q

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Re:Priced out of home ownership – 'It makes me want to throw... by trashtester on Friday May 31, 2024 @08:00AM (#40533969)

> A single peice of land may or may not appreciate. but a diversified portfoilio of land will always appreciate if the last 10,000 years has anything to say about it.

I believe there are large parts of Europe that would take centuries if not a millennium to reach the peak value it had during the Roman Empire (measured vs gold).

In general I agree, though. A portfolio is fine.

Most people tend to have most of their "savings" in a single property though.

As an example, what do you think this $2500 property cost when it was new? (Edit: make that 1965, since it's quite old.)

https://www.zillow.com/homedetails/3226-Columbus-St-Detroit-...

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