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Of course I agree with both of you but there is also a lot of artificial scarcity and price manipulation that benefits current bag holders, so it’s not entirely off the mark as an analogy.
Well, that's the point. It's more hyperbolic than accurate. Real Estate is inflated by the fiat system just isn't a quipy but is more accurate. He knows this. He uses the term for effect. Just not my style. It's great for preaching to the chior but not to outsiders.
The other thing is real estate as an investment is different from real estate as a citadel. A home. Real Estate and homes are used as savings vehicles and that's flawed. Bitcoin is better. But you can't live in a bitcoin. Understanding how to use things and how not to is key.
More than being inflated by fiat, prices are arbitrarily inflated by the state holding so much land off the market. That means it’s vulnerable to a rug pull if those restrictions are ever repealed.
To me, that’s an important distinction between real estate and other goods that are produced according to their costs of development.
I have never been a fan of the "everything is a shitcoin" thing. It's hyperbolic. I think people use it that way and far too many take them literally.
Shitcoins are usually literally worthless ponzi schemes. Real Estate has actual utility but of course the state and the fiat banking system have manipulated the markets and distorted them.
Land is a scarce resource and homes have actual value. I'm more of a fan of comparing and contrasting vs oversimplification and generalizations. I love Saif's books but this is a point I disagree with him on.