Re:Ask HN: What is the best financial advice someone has eve...
by screye on Saturday June 22, 2024 @01:04PM
(#40760455)
No, land is illiquid, and that's a good thing.
People, as a group, undisciplined. Without discipline, money in hand is money spent. Land, land sits there, doing nothing, menacingly. In that sense, land is 'default alive' and money isn't. Generations can go by without any land-atrophy.
It helps with another human weakness too. It's impossible to get a person to save at rates of 30-40% of their salary. But make it a mortgage, and suddenly they've learned conscientiousness.
People, as a group, undisciplined. Without discipline, money in hand is money spent. Land, land sits there, doing nothing, menacingly. In that sense, land is 'default alive' and money isn't. Generations can go by without any land-atrophy.
It helps with another human weakness too. It's impossible to get a person to save at rates of 30-40% of their salary. But make it a mortgage, and suddenly they've learned conscientiousness.