Murray von Nakamoto on Nostr: This is a good base on which to continue the discussion. (Appreciate the dialogue ...
This is a good base on which to continue the discussion. (Appreciate the dialogue BTW.)
At the end of the day, owning land and real estate and renting it out (or selling it) is a business, in many ways like any other business.
The most competent stewards of wealth seek out the greatest returns on their investment. Throughout history, that has meant diversifying away from real estate and into other opportunies. (Certain stock market sectors (railroads, canals, bridges, technology, etc.), commodities, Bitcoin, etc.)
Just because some families have owned land for centuries, doesn't necessarily mean they are in any sort of an enviable position or made great business decisions. Either way, it doesn't tell us much anyway because real estate might at times be a mere drop in the ocean of the family wealth. But to the extent they make worse returns than other wealth owners, their is being dissipated and eroded over time.
That being said, I don't want to dismiss one of the other points that (I believe) you're making: Generation X is kind of REKT from the outset: entering the workforce when real estate is topping out worldwide, too late to buy Bitcoin in the early days, and so on. (Some of them will still be able to grab the final 10-100x still remaining in Bitcoin.)
At the end of the day, owning land and real estate and renting it out (or selling it) is a business, in many ways like any other business.
The most competent stewards of wealth seek out the greatest returns on their investment. Throughout history, that has meant diversifying away from real estate and into other opportunies. (Certain stock market sectors (railroads, canals, bridges, technology, etc.), commodities, Bitcoin, etc.)
Just because some families have owned land for centuries, doesn't necessarily mean they are in any sort of an enviable position or made great business decisions. Either way, it doesn't tell us much anyway because real estate might at times be a mere drop in the ocean of the family wealth. But to the extent they make worse returns than other wealth owners, their is being dissipated and eroded over time.
That being said, I don't want to dismiss one of the other points that (I believe) you're making: Generation X is kind of REKT from the outset: entering the workforce when real estate is topping out worldwide, too late to buy Bitcoin in the early days, and so on. (Some of them will still be able to grab the final 10-100x still remaining in Bitcoin.)