> I don’t know who promised you this, but it sounds like you got sold a bridge in Brooklyn.
Gold keeps increasing in value, the Mona Lisa too... Econ 101.
I've already partially answer this in another comment but if you think about it: I'd never buy a property with a 30 year mortgage if I'd known it'd lose its value. I'd be better or cheaper to just rent. But then if buying is a bad choice, because what just said, then who we'd be renting from?
I'm with you, that housing should be affordable. But it seems that everyone here forgets basic Economics.
Is gold more useful now than 20 years ago?
More desirable?
Has gold as a material been improved?
Most of the increase in "value" is something artificial like inflation / scarcity due to increase in population. But that's not value, that is only indeed economic forces only mildly related to gold itself.
If you wouldn’t have bought it with a ridiculous amount of money if it would ever go down, maybe that’s a hint that prices are, indeed, way too high…
Anyways, gold doesn’t go up like you think it does (I recall it spent the better part of a decade getting smoked) and your house in some city isn’t a one off like the Mona Lisa.
Gold keeps increasing in value, the Mona Lisa too... Econ 101.
I've already partially answer this in another comment but if you think about it: I'd never buy a property with a 30 year mortgage if I'd known it'd lose its value. I'd be better or cheaper to just rent. But then if buying is a bad choice, because what just said, then who we'd be renting from?
I'm with you, that housing should be affordable. But it seems that everyone here forgets basic Economics.