Real estate should have never been considered an asset. Fiat fucks everything. nostr:note1p3pceeaf2j87twl9wrlch7p3ehgrczhmzvn9vqe0p2ev89sh7jgqng0gr5
Discussion
Hard to imagine why anyone would want to buy real estate as an “investment”. I think a lot of the time they don’t understand the carrying costs.
I grew up in a rental property family and god damn it’s a massive pain in the ass and very expensive long-term.
Same deal with me. My family would have to go all over the country dealing with repairs, tenants, and construction. The cash flow can definitely be nice, but it’s WAY more work and WAY more expensive than the sticker price.
Yeah the damage some tenants do and the periodic vacancies really chisel away at profitability on top of everything else you mentioned.
Add in jurisdictional risk (hostage to variable property tax rate) and rental properties are an absolute no go for anyone who is paying attention.
Feels like as so many governments get more in debt and the money starts failing at a faster rate there will be a trend of higher and higher property taxes.
💯