Why? Well like you say, "It depends."

There is certainly value in being able to save it, so I agree saving it for 5-6 years is probably more valuable for most people today.

But what if buying that food/house made a lasting impression on the next generation, and builds the foundation for it as is the money of the future? There is a degree of lasting value in spending it and building the tools, infrastructure, and mindset, so that it continues to be more adopted and valuable in the future. When should that transition price be paid?

I'm thinking that Gresham's law applies here, and it's what you are talking about. Using fiat money at this point in time for short term needs as long as it's accepted and saving their hard money would be far more beneficial for most people. And many have it backwards. We should definitely be thinking more about what is valuable and lasting.

Reply to this note

Please Login to reply.

Discussion

You are going to spend a 1000 year asset to buy a house that will be falling apart in 15 years. Make that make sense WITHOUT appealing to emotion or some other fallacy.

Yes Gresham's law applies here. I just think you are misapplying it.

The house is garbage if new or recent (Standard build in our lifetime), the land? depends on how much & where, that may be worth it.

The way houses are built now you may be better off in a tent. 🤣

Modern houses are garbage, forget it.

Land they aren't making more of, but it has to be enough to be useful in the old context.